ONEOK, Inc. (NYSE:OKE) Shares Sold by SFE Investment Counsel

SFE Investment Counsel cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,299 shares of the utilities provider’s stock after selling 2,842 shares during the quarter. ONEOK makes up approximately 2.8% of SFE Investment Counsel’s portfolio, making the stock its 5th largest holding. SFE Investment Counsel’s holdings in ONEOK were worth $13,514,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Caxton Associates LP purchased a new stake in ONEOK during the 2nd quarter worth about $1,225,000. Point72 Europe London LLP purchased a new stake in shares of ONEOK during the second quarter worth about $15,008,000. Sageworth Trust Co acquired a new position in shares of ONEOK in the third quarter valued at approximately $568,000. Norden Group LLC lifted its stake in shares of ONEOK by 4,460.2% during the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after buying an additional 131,441 shares during the period. Finally, NewEdge Advisors LLC boosted its position in ONEOK by 61.0% during the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock worth $11,836,000 after acquiring an additional 54,978 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKE. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Price Performance

Shares of NYSE OKE opened at $96.02 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.43. The company has a market capitalization of $56.08 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 4.17 and a beta of 1.67. The business has a 50-day moving average of $93.01 and a 200-day moving average of $85.44.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the business earned $1.04 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 86.27%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.