First Eagle Investment Management LLC Sells 13,251 Shares of ONEOK, Inc. (NYSE:OKE)

First Eagle Investment Management LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,451,817 shares of the utilities provider’s stock after selling 13,251 shares during the period. First Eagle Investment Management LLC owned approximately 0.59% of ONEOK worth $281,496,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Hilltop Holdings Inc. increased its holdings in shares of ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares during the period. TD Asset Management Inc raised its holdings in ONEOK by 11.6% in the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after acquiring an additional 21,657 shares in the last quarter. Norden Group LLC lifted its position in shares of ONEOK by 4,460.2% during the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after acquiring an additional 131,441 shares during the period. Wellington Management Group LLP grew its holdings in shares of ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of ONEOK by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock worth $8,510,000 after purchasing an additional 9,722 shares during the period. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OKE shares. Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday. Scotiabank boosted 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. Royal Bank of Canada raised their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

Shares of ONEOK stock opened at $93.90 on Thursday. The stock has a market capitalization of $54.84 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The company has a fifty day moving average of $86.83 and a 200-day moving average of $82.22. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $95.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared 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 was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. ONEOK’s dividend payout ratio is currently 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.