ONEOK, Inc. (NYSE:OKE) Stock Position Reduced by Benjamin Edwards Inc.

Benjamin Edwards Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,462 shares of the utilities provider’s stock after selling 237 shares during the quarter. Benjamin Edwards Inc.’s holdings in ONEOK were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

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

ONEOK Trading Up 0.2 %

ONEOK stock opened at $93.97 on Friday. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $95.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market capitalization of $54.89 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The firm has a 50 day simple moving average of $87.24 and a 200-day simple moving average of $82.42.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Barclays upped 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. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

About ONEOK

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.