Prime Capital Investment Advisors LLC Sells 3,615 Shares of ONEOK, Inc. (NYSE:OKE)

Prime Capital Investment Advisors LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,091 shares of the utilities provider’s stock after selling 3,615 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ONEOK were worth $5,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Envestnet Portfolio Solutions Inc. raised its position in shares of ONEOK by 21.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after buying an additional 844 shares in the last quarter. QRG Capital Management Inc. raised its position in ONEOK by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 198 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of ONEOK in the 1st quarter worth approximately $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of ONEOK by 28.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after acquiring an additional 14,058 shares during the period. Finally, Eagle Bay Advisors LLC raised its holdings in ONEOK by 3,750.0% in the first quarter. Eagle Bay Advisors LLC now owns 924 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 900 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 company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OKE. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Citigroup raised their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Price Performance

OKE stock opened at $107.81 on Wednesday. The stock has a market cap of $62.98 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 5.44 and a beta of 1.66. ONEOK, Inc. has a fifty-two week low of $63.77 and a fifty-two week high of $109.21. 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 has a 50 day moving average price of $95.19 and a 200 day moving average price of $86.90.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed 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. This represents a $3.96 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 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.