Anchor Investment Management LLC Cuts Position in ONEOK, Inc. (NYSE:OKE)

Anchor Investment Management LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,263 shares of the utilities provider’s stock after selling 434 shares during the period. Anchor Investment Management LLC’s holdings in ONEOK were worth $266,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares in the last quarter. Brighton Jones LLC grew its position in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares in the last quarter. Capital Wealth Planning LLC grew its position in ONEOK by 4.3% in the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 131 shares in the last quarter. Finally, Aviso Wealth Management grew its position in ONEOK by 1.7% in the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock valued at $637,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on OKE shares. Barclays increased their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Morgan Stanley raised 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 report on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Citigroup raised their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.

ONEOK Stock Performance

Shares of OKE stock opened at $95.23 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average of $89.16 and a two-hundred day moving average of $83.52. The company has a market cap of $55.58 billion, a P/E ratio of 22.15, a PEG ratio of 4.46 and a beta of 1.67. ONEOK, Inc. has a 52 week low of $60.79 and a 52 week high of $96.05.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.