Integrated Advisors Network LLC Sells 4,675 Shares of ONEOK, Inc. (NYSE:OKE)

Integrated Advisors Network LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,979 shares of the utilities provider’s stock after selling 4,675 shares during the period. Integrated Advisors Network LLC’s holdings in ONEOK were worth $4,281,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. lifted its stake in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the period. Energy Income Partners LLC increased its position in ONEOK by 10.3% during the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after buying an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after buying an additional 132,326 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Price Performance

OKE stock opened at $95.74 on Tuesday. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $55.92 billion, a P/E ratio of 20.92, a PEG ratio of 4.17 and a beta of 1.67. The company has a fifty day moving average price of $93.01 and a 200-day moving average price of $85.44.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business posted $1.04 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

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.