WP Advisors LLC Reduces Stake in ONEOK, Inc. (NYSE:OKE)

WP Advisors LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 57.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,920 shares of the utilities provider’s stock after selling 53,965 shares during the period. ONEOK comprises 1.3% of WP Advisors LLC’s investment portfolio, making the stock its 19th biggest position. WP Advisors LLC’s holdings in ONEOK were worth $3,638,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in ONEOK during the second quarter worth $28,000. Matrix Trust Co purchased a new position in ONEOK during the third quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the third quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKE shares. 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. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company lifted their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.38.

Insider Activity at ONEOK

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

ONEOK Stock Up 1.8 %

Shares of NYSE OKE opened at $109.81 on Monday. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $110.05. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50-day simple moving average is $96.54 and its 200-day simple moving average is $87.72.

ONEOK (NYSE:OKE) last announced its earnings results 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

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.