ONEOK, Inc. (NYSE:OKE) Holdings Lessened by Cowa LLC

Cowa LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,243 shares of the utilities provider’s stock after selling 7,104 shares during the period. ONEOK comprises 2.8% of Cowa LLC’s portfolio, making the stock its 10th largest holding. Cowa LLC’s holdings in ONEOK were worth $5,239,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its stake in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the period. Northern Trust Corp boosted its position in shares of ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the period. Finally, Energy Income Partners LLC lifted its stake in shares of ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after buying an additional 319,487 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

ONEOK stock opened at $93.77 on Friday. The company’s 50-day moving average price is $87.05 and its 200-day moving average price is $82.30. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a market cap of $54.77 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $95.28.

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, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.04 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.22%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OKE. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

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.