ONEOK, Inc. (NYSE:OKE) Shares Sold by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 28.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,908 shares of the utilities provider’s stock after selling 1,583 shares during the period. Stokes Capital Advisors LLC’s holdings in ONEOK were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OKE. Rise Advisors LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK during the fourth quarter worth $32,000. American National Bank purchased a new position in shares of ONEOK in the first quarter valued at $32,000. Finally, Security National Bank acquired a new stake in ONEOK during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Mizuho increased their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Wells Fargo & Company raised their price objective on shares of ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $85.50.

ONEOK Stock Performance

NYSE OKE traded up $0.49 during trading hours on Friday, hitting $87.46. The company had a trading volume of 5,610,574 shares, compared to its average volume of 2,898,694. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $87.74. The business has a fifty day simple moving average of $82.39 and a 200-day simple moving average of $79.17. The firm has a market cap of $51.08 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 4.36 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the business earned $1.04 earnings per share. Equities analysts predict that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.53%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.