AE Wealth Management LLC Sells 11,905 Shares of ONEOK, Inc. (NYSE:OKE)

AE Wealth Management LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,664 shares of the utilities provider’s stock after selling 11,905 shares during the period. AE Wealth Management LLC’s holdings in ONEOK were worth $15,548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new position in ONEOK during the 1st quarter valued at about $26,000. Quest Partners LLC bought a new position in ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter valued at about $31,000. Finally, American National Bank bought a new position in ONEOK during the 1st quarter valued at about $32,000. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 0.2 %

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

ONEOK (NYSE:OKE) last released its earnings results 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 during 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 in the prior year, the firm posted $1.04 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current 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 paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.21%. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OKE shares. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Citigroup upped 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. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.38.

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.