CAP Partners LLC Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

CAP Partners LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,177 shares of the utilities provider’s stock after selling 114 shares during the period. CAP Partners LLC’s holdings in ONEOK were worth $745,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its position 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 valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of ONEOK by 370.1% during the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after acquiring an additional 484,403 shares during the last quarter. Strategic Financial Concepts LLC increased its position in ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 392,644 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in ONEOK by 119.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after purchasing an additional 320,967 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OKE shares. Scotiabank lifted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. 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 report on Wednesday, October 16th. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Trading Up 0.1 %

NYSE:OKE opened at $109.90 on Monday. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $110.05. The business’s 50-day moving average is $96.54 and its two-hundred day moving average is $87.72. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $64.20 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm posted $0.99 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.60%. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Company 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.