ONEOK, Inc. (NYSE:OKE) Stake Lowered by JBR Co Financial Management Inc

JBR Co Financial Management Inc reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,624 shares of the utilities provider’s stock after selling 6,519 shares during the period. ONEOK accounts for 1.5% of JBR Co Financial Management Inc’s investment portfolio, making the stock its 18th biggest holding. JBR Co Financial Management Inc’s holdings in ONEOK were worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rise Advisors LLC bought a new stake in ONEOK in the first quarter worth $25,000. Quest Partners LLC bought a new stake in ONEOK in the second quarter worth $28,000. Matrix Trust Co bought a new stake in ONEOK in the third quarter worth $29,000. Ridgewood Investments LLC bought a new stake in ONEOK in the second quarter worth $31,000. Finally, American National Bank bought a new stake in ONEOK in the first quarter worth $32,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OKE shares. Scotiabank upped their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Mizuho upped 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, JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.

ONEOK Price Performance

OKE traded up $1.92 during midday trading on Friday, reaching $96.61. 4,026,403 shares of the company’s stock were exchanged, compared to its average volume of 2,759,627. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $90.44 and a two-hundred day simple moving average of $84.11. The firm has a market capitalization of $56.43 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a one year low of $63.33 and a one year high of $96.64.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the business earned $1.04 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 86.27%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.