Cypress Capital Group Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Cypress Capital Group decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,591 shares of the utilities provider’s stock after selling 545 shares during the period. Cypress Capital Group’s holdings in ONEOK were worth $1,056,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OKE. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter valued at approximately $29,000. Quest Partners LLC bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $31,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the third quarter worth $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Citigroup upped their target price 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. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Eight research 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 an average target price of $100.38.

ONEOK Stock Up 3.1 %

Shares of OKE opened at $116.65 on Friday. The stock has a market capitalization of $68.14 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 5.64 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50 day simple moving average is $98.36 and its 200-day simple moving average is $88.59. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $117.24.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for 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 period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) 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.