Capital Square LLC Lowers Position in ONEOK, Inc. (NYSE:OKE)

Capital Square LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,110 shares of the utilities provider’s stock after selling 500 shares during the period. Capital Square LLC’s holdings in ONEOK were worth $283,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new position in ONEOK in the second quarter worth $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the 3rd quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the 2nd quarter valued at about $31,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth about $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the third quarter valued at approximately $44,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Finally, Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was 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 SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

Shares of ONEOK stock traded down $1.87 during trading hours on Monday, hitting $115.18. The company’s stock had a trading volume of 635,770 shares, compared to its average volume of 2,767,153. The company has a market cap of $67.29 billion, a PE ratio of 24.49, a PEG ratio of 5.84 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business has a 50 day moving average price of $98.87 and a two-hundred day moving average price of $89.00. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly 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 return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.44%. ONEOK’s dividend payout ratio is 82.85%.

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.