ONEOK, Inc. (NYSE:OKE) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 61.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,631 shares of the utilities provider’s stock after selling 23,347 shares during the period. Lake Street Advisors Group LLC’s holdings in ONEOK were worth $1,333,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC increased its stake in ONEOK by 13.1% in the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock valued at $600,000 after purchasing an additional 864 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of ONEOK by 14.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,571 shares of the utilities provider’s stock worth $928,000 after acquiring an additional 1,500 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of ONEOK by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 197,720 shares of the utilities provider’s stock worth $15,851,000 after acquiring an additional 1,669 shares during the last quarter. MCF Advisors LLC grew its holdings in ONEOK by 22.9% in the first quarter. MCF Advisors LLC now owns 2,284 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 425 shares during the period. Finally, SteelPeak Wealth LLC raised its stake in ONEOK by 140.5% during the first quarter. SteelPeak Wealth LLC now owns 10,783 shares of the utilities provider’s stock worth $864,000 after purchasing an additional 6,299 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’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 value of $310,901.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Stock Performance

Shares of OKE opened at $96.66 on Friday. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average is $92.67 and its two-hundred day moving average is $85.13. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43.

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

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.10%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.