Invst LLC Sells 245 Shares of ONEOK, Inc. (NYSE:OKE)

Invst LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,501 shares of the utilities provider’s stock after selling 245 shares during the quarter. Invst LLC’s holdings in ONEOK were worth $1,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. International Assets Investment Management LLC lifted its holdings in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter worth about $47,957,000. Bahl & Gaynor Inc. boosted its holdings in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after purchasing an additional 501,216 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of ONEOK during the 3rd quarter valued at about $45,194,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $104.34 on Wednesday. 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, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm has a market cap of $60.95 billion, a P/E ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69. The business’s 50 day moving average price is $102.71 and its 200-day moving average price is $91.26.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKE. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company upped their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Finally, Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.00.

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.