Commonwealth Equity Services LLC Sells 10,227 Shares of ONEOK, Inc. (NYSE:OKE)

Commonwealth Equity Services LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 655,033 shares of the utilities provider’s stock after selling 10,227 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.11% of ONEOK worth $59,693,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of ONEOK by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 5,838 shares of the utilities provider’s stock valued at $532,000 after acquiring an additional 3,391 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of ONEOK by 1.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 269,654 shares of the utilities provider’s stock worth $24,574,000 after purchasing an additional 3,812 shares during the period. Stratos Wealth Partners LTD. lifted its stake in ONEOK by 2.2% in the third quarter. Stratos Wealth Partners LTD. now owns 65,534 shares of the utilities provider’s stock valued at $5,972,000 after purchasing an additional 1,385 shares during the last quarter. OmniStar Financial Group Inc. grew its holdings in ONEOK by 79.6% during the third quarter. OmniStar Financial Group Inc. now owns 17,362 shares of the utilities provider’s stock valued at $1,585,000 after purchasing an additional 7,694 shares during the period. Finally, Aaron Wealth Advisors LLC increased its position in ONEOK by 12.5% in the third quarter. Aaron Wealth Advisors LLC now owns 4,089 shares of the utilities provider’s stock worth $373,000 after buying an additional 455 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. Bank of America started coverage on ONEOK in a research report on Thursday. They set a “buy” rating and a $105.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank raised 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. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Trading Up 0.8 %

Shares of OKE stock opened at $97.23 on Friday. The company has a market capitalization of $56.79 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.01. The business’s fifty day moving average is $91.79 and its 200 day moving average is $84.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the firm posted $1.04 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.07%. ONEOK’s dividend payout ratio is presently 86.27%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.