ONEOK, Inc. (NYSE:OKE) Stock Holdings Lowered by Barnett & Company Inc.

Barnett & Company Inc. lessened its stake in ONEOK, Inc. (NYSE:OKE) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,816 shares of the utilities provider’s stock after selling 300 shares during the quarter. ONEOK comprises about 3.5% of Barnett & Company Inc.’s holdings, making the stock its 9th largest holding. Barnett & Company Inc.’s holdings in ONEOK were worth $5,269,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OKE. Envestnet Portfolio Solutions Inc. lifted its holdings in ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after buying an additional 844 shares in the last quarter. NorthRock Partners LLC boosted its holdings in ONEOK by 41.4% in the first quarter. NorthRock Partners LLC now owns 4,359 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 1,276 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in ONEOK by 7.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 9,101 shares of the utilities provider’s stock valued at $730,000 after purchasing an additional 634 shares in the last quarter. QRG Capital Management Inc. grew its stake in ONEOK by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 198 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in ONEOK during the 1st quarter worth approximately $681,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred 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 available at this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. 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. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

ONEOK Price Performance

OKE stock traded down $0.98 during trading on Tuesday, hitting $108.06. The company had a trading volume of 468,854 shares, compared to its average volume of 2,744,967. The business has a 50 day moving average of $95.19 and a 200 day moving average of $86.90. The firm has a market capitalization of $63.13 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 5.35 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $63.77 and a fifty-two week high of $109.18.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business earned $0.99 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.