ONEOK, Inc. (NYSE:OKE) Position Reduced by Independent Advisor Alliance

Independent Advisor Alliance reduced its position in ONEOK, Inc. (NYSE:OKE) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,251 shares of the utilities provider’s stock after selling 209 shares during the period. Independent Advisor Alliance’s holdings in ONEOK were worth $1,663,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HM Payson & Co. boosted its stake in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares during the period. Claro Advisors LLC boosted its position 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 worth $650,000 after buying an additional 115 shares during the period. Haverford Trust Co grew its holdings in shares of ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares in the last quarter. QRG Capital Management Inc. raised its position in ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after buying an additional 119 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its stake in ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the business’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 document filed with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Trading Up 1.7 %

Shares of OKE stock opened at $113.45 on Wednesday. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The company has a market cap of $66.28 billion, a PE ratio of 23.73, a price-to-earnings-growth 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. The business’s 50 day moving average is $99.60 and its two-hundred day moving average is $89.46.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during 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 period in the prior year, the firm earned $0.99 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. ONEOK’s payout ratio is 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.