ONEOK, Inc. (NYSE:OKE) Shares Sold by Howard Financial Services LTD.

Howard Financial Services LTD. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,747 shares of the utilities provider’s stock after selling 1,443 shares during the period. Howard Financial Services LTD.’s holdings in ONEOK were worth $1,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter worth $25,000. Quest Partners LLC acquired a new stake in shares of ONEOK in the 2nd quarter worth about $28,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the 2nd quarter worth about $31,000. American National Bank acquired a new stake in shares of ONEOK in the 1st quarter worth about $32,000. Finally, Manchester Capital Management LLC increased its holdings in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Barclays increased their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Royal Bank of Canada increased their price objective on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.38.

ONEOK Stock Performance

Shares of OKE opened at $93.60 on Wednesday. The firm’s 50 day moving average is $89.63 and its 200-day moving average is $83.80. The stock has a market capitalization of $54.63 billion, a P/E ratio of 21.76, a P/E/G ratio of 4.62 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $96.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) 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 net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the company posted $1.04 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.23%. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 the SEC website. Corporate 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.