ONEOK, Inc. (NYSE:OKE) Shares Sold by SPC Financial Inc.

SPC Financial Inc. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,937 shares of the utilities provider’s stock after selling 251 shares during the period. SPC Financial Inc.’s holdings in ONEOK were worth $2,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in shares of ONEOK by 11.6% in the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after acquiring an additional 21,657 shares during the last quarter. California State Teachers Retirement System boosted its stake in ONEOK by 13.2% during the 4th quarter. California State Teachers Retirement System now owns 1,147,862 shares of the utilities provider’s stock worth $80,603,000 after purchasing an additional 133,505 shares during the last quarter. KBC Group NV grew its holdings in shares of ONEOK by 36.7% during the fourth quarter. KBC Group NV now owns 468,119 shares of the utilities provider’s stock worth $32,872,000 after buying an additional 125,778 shares in the last quarter. Prudent Man Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $631,000. Finally, Jones Financial Companies Lllp raised its position in shares of ONEOK by 66.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,684 shares of the utilities provider’s stock valued at $399,000 after buying an additional 2,276 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OKE. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Barclays upped their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average target price of $92.38.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Up 1.0 %

ONEOK stock opened at $91.13 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a 50 day moving average price of $88.22 and a 200 day moving average price of $83.14. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $96.05. The company has a market capitalization of $53.19 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted 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. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.35%. ONEOK’s payout ratio is 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.