Assetmark Inc. Sells 137 Shares of ONEOK, Inc. (NYSE:OKE)

Assetmark Inc. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,261 shares of the utilities provider’s stock after selling 137 shares during the quarter. Assetmark Inc.’s holdings in ONEOK were worth $115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after purchasing an additional 501,216 shares during the period. Cetera Investment Advisers raised its holdings in shares of ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after purchasing an additional 484,403 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of ONEOK by 3,137.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 392,644 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of ONEOK by 119.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after purchasing an additional 320,967 shares during the period. 69.13% of the stock is owned by institutional investors.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKE. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Performance

NYSE OKE opened at $109.81 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 5.48 and a beta of 1.66. The firm’s 50 day simple moving average is $96.54 and its 200 day simple moving average is $87.72. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $110.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

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.