Dearborn Partners LLC Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

Dearborn Partners LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,450 shares of the utilities provider’s stock after selling 1,114 shares during the period. Dearborn Partners LLC’s holdings in ONEOK were worth $10,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OKE. CIBC Asset Management Inc increased its holdings in shares of ONEOK by 7.2% during the 3rd quarter. CIBC Asset Management Inc now owns 100,069 shares of the utilities provider’s stock worth $9,119,000 after buying an additional 6,746 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in ONEOK by 5.8% during the third quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after acquiring an additional 455 shares during the last quarter. Lifeworks Advisors LLC purchased a new position in shares of ONEOK in the 3rd quarter worth about $353,000. Ferguson Wellman Capital Management Inc. raised its holdings in shares of ONEOK by 3.1% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,356 shares of the utilities provider’s stock worth $853,000 after purchasing an additional 279 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of ONEOK by 4.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,150 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 854 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.3 %

NYSE:OKE opened at $107.88 on Friday. The stock’s fifty day moving average price is $95.84 and its two-hundred day moving average price is $87.24. The company has a market cap of $63.02 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $109.21. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business posted $0.99 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.92.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

About ONEOK

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.