Evergreen Capital Management LLC Sells 3,022 Shares of ONEOK, Inc. (NYSE:OKE)

Evergreen Capital Management LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,083 shares of the utilities provider’s stock after selling 3,022 shares during the period. Evergreen Capital Management LLC’s holdings in ONEOK were worth $6,694,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Rise Advisors LLC purchased a new stake in ONEOK in the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK in the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK in the 2nd quarter valued at about $31,000. Finally, American National Bank purchased a new stake in ONEOK in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank raised their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Barclays raised their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.38.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on 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 legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Up 0.2 %

Shares of NYSE:OKE opened at $93.97 on Monday. The firm has a fifty day moving average price of $87.24 and a two-hundred day moving average price of $82.49. 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 one year low of $60.58 and a one year high of $95.28. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67.

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

ONEOK Announces Dividend

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

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.