ONEOK (NYSE:OKE) Trading Down 3.9% – Should You Sell?

ONEOK, Inc. (NYSE:OKE) shares fell 3.9% during mid-day trading on Monday . The company traded as low as $112.40 and last traded at $112.48. 1,854,124 shares traded hands during trading, a decline of 33% from the average session volume of 2,772,497 shares. The stock had previously closed at $117.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. Wells Fargo & Company lifted their price target on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barclays lifted their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Down 4.8 %

The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $98.87 and a 200 day simple moving average of $89.00. The firm has a market capitalization of $65.11 billion, a PE ratio of 24.49, a PEG ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced 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). The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.55%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Hedge funds have recently made changes to their positions in the company. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter valued at approximately $29,000. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new stake in ONEOK in the second quarter worth $31,000. Access Investment Management LLC bought a new stake in ONEOK in the third quarter worth $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK in the third quarter worth $44,000. 69.13% of the stock is currently owned by institutional investors.

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.