ONEOK, Inc. (NYSE:OKE) Shares Sold by Ethic Inc.

Ethic Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 33.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 83,999 shares of the utilities provider’s stock after selling 42,838 shares during the period. Ethic Inc.’s holdings in ONEOK were worth $8,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Marcum Wealth LLC grew its position in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock worth $1,017,000 after purchasing an additional 108 shares during the period. West Paces Advisors Inc. grew its position in shares of ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider’s stock valued at $254,000 after acquiring an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC grew its position in shares of ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock valued at $1,560,000 after acquiring an additional 130 shares during the period. Uniplan Investment Counsel Inc. grew its position in shares of ONEOK by 0.3% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider’s stock valued at $5,117,000 after acquiring an additional 132 shares during the period. Finally, Visionary Wealth Advisors grew its position in shares of ONEOK by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider’s stock valued at $635,000 after acquiring an additional 132 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OKE shares. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 target price on the stock. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Royal Bank Of Canada dropped their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Scotiabank set a $92.00 target price on ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.57.

ONEOK Trading Down 1.1%

OKE opened at $74.00 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The company’s 50 day simple moving average is $80.20 and its two-hundred day simple moving average is $86.65. ONEOK, Inc. has a 1-year low of $73.02 and a 1-year high of $118.07. The firm has a market capitalization of $46.60 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the company posted $1.33 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK’s payout ratio is presently 80.31%.

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.