Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Position in ONEOK, Inc. (NYSE:OKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in ONEOK, Inc. (NYSE:OKE) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,525 shares of the utilities provider’s stock after selling 390 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ONEOK were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of OKE. Matrix Trust Co purchased a new position in shares of ONEOK in the 3rd quarter valued at $29,000. Quest Partners LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at $31,000. Manchester Capital Management LLC grew its position in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter valued at $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were 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 hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKE. Mizuho increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Barclays raised their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Morgan Stanley raised shares of 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 research report on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Citigroup raised their price objective 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

ONEOK Stock Up 0.7 %

OKE stock opened at $96.21 on Thursday. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.43. The stock has a market capitalization of $56.19 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. 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 fifty day moving average of $93.37 and a 200-day moving average of $85.64.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.12%. ONEOK’s payout ratio is currently 86.27%.

ONEOK 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.