ONEOK, Inc. (NYSE:OKE) Stock Holdings Trimmed by Claro Advisors LLC

Claro Advisors LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 71.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,022 shares of the utilities provider’s stock after selling 4,995 shares during the quarter. Claro Advisors LLC’s holdings in ONEOK were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC raised its stake in shares of ONEOK by 9.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,287 shares of the utilities provider’s stock worth $1,029,000 after buying an additional 960 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of ONEOK by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,145 shares of the utilities provider’s stock worth $6,666,000 after buying an additional 727 shares in the last quarter. Secure Asset Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth $207,000. Hengehold Capital Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth $266,000. Finally, B.O.S.S. Retirement Advisors LLC raised its stake in shares of ONEOK by 2.3% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 17,930 shares of the utilities provider’s stock worth $1,634,000 after buying an additional 410 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $97.23 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.01. The stock’s 50-day moving average is $91.79 and its two-hundred day moving average is $84.71. The firm has a market cap of $56.79 billion, a P/E ratio of 21.18, a PEG ratio of 4.82 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the firm posted $1.04 EPS. Analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKE shares. Barclays boosted their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America initiated coverage on ONEOK in a report on Thursday. They set a “buy” rating and a $105.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

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.