J.W. Cole Advisors Inc. Trims Stake in ONEOK, Inc. (NYSE:OKE)

J.W. Cole Advisors Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,115 shares of the utilities provider’s stock after selling 113 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $1,104,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OKE. State of Alaska Department of Revenue boosted its holdings in ONEOK by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 67,866 shares of the utilities provider’s stock worth $6,184,000 after buying an additional 4,380 shares in the last quarter. Amarillo National Bank purchased a new stake in shares of ONEOK during the 3rd quarter worth about $403,000. Frank Rimerman Advisors LLC grew its position in shares of ONEOK by 50.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 15,546 shares of the utilities provider’s stock valued at $1,417,000 after acquiring an additional 5,239 shares during the period. MCF Advisors LLC increased its stake in shares of ONEOK by 6.1% in the 3rd quarter. MCF Advisors LLC now owns 2,424 shares of the utilities provider’s stock valued at $221,000 after purchasing an additional 139 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in ONEOK by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 218,544 shares of the utilities provider’s stock worth $19,916,000 after purchasing an additional 18,782 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Performance

Shares of ONEOK stock opened at $95.54 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The business’s 50 day moving average price is $93.18 and its 200 day moving average price is $85.56. The company has a market cap of $55.80 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 4.17 and a beta of 1.67. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.43.

ONEOK (NYSE:OKE) last announced 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. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is presently 86.27%.

About ONEOK

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.