Independent Advisor Alliance Sells 209 Shares of ONEOK, Inc. (NYSE:OKE)

Independent Advisor Alliance cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,251 shares of the utilities provider’s stock after selling 209 shares during the quarter. Independent Advisor Alliance’s holdings in ONEOK were worth $1,663,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth about $28,000. Matrix Trust Co bought a new stake in ONEOK during the third quarter worth about $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Up 1.7 %

NYSE:OKE opened at $113.45 on Wednesday. The stock’s fifty day simple moving average is $99.60 and its 200-day simple moving average is $89.46. The firm has a market capitalization of $66.28 billion, a P/E ratio of 23.73, a P/E/G ratio of 5.84 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last issued 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). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is presently 82.85%.

Analysts Set New Price Targets

OKE has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Eight investment 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, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $100.38.

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.