ONEOK, Inc. (NYSE:OKE) Stock Position Lessened by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,298,034 shares of the utilities provider’s stock after selling 215,730 shares during the period. ONEOK makes up about 7.7% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 4th largest holding. Kayne Anderson Capital Advisors LP’s holdings in ONEOK were worth $300,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HM Payson & Co. lifted its stake in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares during the period. Claro Advisors LLC increased its holdings in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 115 shares during the period. Haverford Trust Co raised its stake in shares of ONEOK by 1.2% in the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 117 shares during the last quarter. QRG Capital Management Inc. raised its position in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

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

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 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 company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on OKE shares. Wells Fargo & Company raised their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.