Retirement Planning Group LLC Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Retirement Planning Group LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,598 shares of the utilities provider’s stock after selling 515 shares during the period. Retirement Planning Group LLC’s holdings in ONEOK were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Wellington Management Group LLP boosted its stake in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after acquiring an additional 1,128,066 shares in the last quarter. M&G Plc purchased a new position in ONEOK during the 1st quarter worth approximately $77,634,000. Kayne Anderson Capital Advisors LP increased its position in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the period. Bahl & Gaynor Inc. lifted its stake in ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after acquiring an additional 484,403 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OKE shares. Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Barclays upped their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho lifted their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.38.

Check Out Our Latest Stock Analysis on ONEOK

ONEOK Stock Performance

ONEOK stock opened at $96.61 on Friday. 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, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.64. The stock has a fifty day moving average of $90.44 and a two-hundred day moving average of $84.11. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKEGet Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the company posted $1.04 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

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

ONEOK Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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