Seneca House Advisors Has $7.10 Million Stake in ONEOK, Inc. (NYSE:OKE)

Seneca House Advisors lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,858 shares of the utilities provider’s stock after selling 1,290 shares during the period. ONEOK makes up about 3.0% of Seneca House Advisors’ portfolio, making the stock its 13th largest holding. Seneca House Advisors’ holdings in ONEOK were worth $7,095,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK during the first quarter valued at about $26,000. Quest Partners LLC bought a new stake in ONEOK during the 2nd quarter worth approximately $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK in the 2nd quarter valued at $31,000. Finally, American National Bank bought a new position in shares of ONEOK during the first quarter valued at about $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

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 value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OKE. Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Mizuho boosted their price target 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. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Stock Up 0.5 %

ONEOK stock traded up $0.52 during midday trading on Friday, hitting $95.23. 1,861,481 shares of the company’s stock were exchanged, compared to its average volume of 2,774,296. ONEOK, Inc. has a 12 month low of $60.79 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market cap of $55.58 billion, a PE ratio of 22.15, a P/E/G ratio of 4.46 and a beta of 1.67. The firm has a 50-day moving average of $89.16 and a two-hundred day moving average of $83.52.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company earned $1.04 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.16%. ONEOK’s 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.