Private Management Group Inc. Sells 295 Shares of ONEOK, Inc. (NYSE:OKE)

Private Management Group Inc. lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,350 shares of the utilities provider’s stock after selling 295 shares during the quarter. Private Management Group Inc.’s holdings in ONEOK were worth $2,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of ONEOK during the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new position in ONEOK during the first quarter valued at $26,000. Quest Partners LLC bought a new stake in shares of ONEOK in the 2nd quarter worth about $28,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the 2nd quarter worth about $31,000. Finally, American National Bank purchased a new position in shares of ONEOK during the 1st quarter worth about $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average price target of $89.92.

Insider Buying and Selling

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

ONEOK Trading Up 1.1 %

NYSE OKE opened at $92.03 on Tuesday. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00. 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 capitalization of $53.75 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.67. The company’s 50-day simple moving average is $85.45 and its two-hundred day simple moving average is $81.38.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the company posted $1.04 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. 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.