Choreo LLC Acquires 9,271 Shares of ONEOK, Inc. (NYSE:OKE)

Choreo LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 135.3% during the second quarter, HoldingsChannel reports. The firm owned 16,122 shares of the utilities provider’s stock after purchasing an additional 9,271 shares during the quarter. Choreo LLC’s holdings in ONEOK were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in OKE. Wedbush Securities Inc. boosted its stake in ONEOK by 1.4% in the second quarter. Wedbush Securities Inc. now owns 17,266 shares of the utilities provider’s stock valued at $1,408,000 after acquiring an additional 240 shares during the last quarter. Prudential PLC raised its holdings in shares of ONEOK by 102.8% in the 2nd quarter. Prudential PLC now owns 158,849 shares of the utilities provider’s stock worth $12,954,000 after purchasing an additional 80,516 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in ONEOK in the second quarter valued at approximately $117,000. First Foundation Advisors grew its holdings in ONEOK by 58.8% during the second quarter. First Foundation Advisors now owns 7,206 shares of the utilities provider’s stock valued at $588,000 after purchasing an additional 2,668 shares during the period. Finally, Quest Partners LLC purchased a new stake in ONEOK in the second quarter worth $28,000. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK 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 value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley boosted their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Citigroup raised their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.92.

ONEOK Trading Down 1.6 %

Shares of OKE opened at $90.24 on Thursday. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $93.00. The company has a market capitalization of $52.67 billion, a P/E ratio of 20.99, a P/E/G ratio of 4.51 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm’s 50 day simple moving average is $85.79 and its 200 day simple moving average is $81.58.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the business earned $1.04 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.39%. ONEOK’s dividend payout ratio is 92.09%.

ONEOK 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.