ONEOK, Inc. (NYSE:OKE) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,510 shares of the utilities provider’s stock after selling 964 shares during the quarter. Edge Capital Group LLC’s holdings in ONEOK were worth $612,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hilltop Holdings Inc. increased its position in 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 last quarter. TD Asset Management Inc raised its holdings in shares of ONEOK by 11.6% in the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after purchasing an additional 21,657 shares during the period. Norden Group LLC raised its holdings in shares of ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after purchasing an additional 131,441 shares during the period. Wellington Management Group LLP lifted its stake in shares of ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of ONEOK by 8.7% during the 4th 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. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Barclays boosted their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.38.

Insider Transactions 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 shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.2 %

OKE stock opened at $93.97 on Monday. The firm has a 50 day simple moving average of $87.24 and a 200-day simple moving average of $82.49. The company has a market capitalization of $54.89 billion, a P/E ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $95.28. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly 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. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the business earned $1.04 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders 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 dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.