Icon Wealth Advisors LLC Sells 58,936 Shares of ONEOK, Inc. (NYSE:OKE)

Icon Wealth Advisors LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 95.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,903 shares of the utilities provider’s stock after selling 58,936 shares during the period. Icon Wealth Advisors LLC’s holdings in ONEOK were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new position in ONEOK during the 1st quarter worth approximately $2,445,000. LRI Investments LLC acquired a new stake in ONEOK in the first quarter worth $111,000. Price T Rowe Associates Inc. MD boosted its position in shares of ONEOK by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 792,631 shares of the utilities provider’s stock worth $63,546,000 after purchasing an additional 11,982 shares in the last quarter. SVB Wealth LLC grew its holdings in shares of ONEOK by 3.2% in the 1st quarter. SVB Wealth LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,739,000 after buying an additional 674 shares during the period. Finally, Earnest Partners LLC increased its position in shares of ONEOK by 6.3% in the 1st quarter. Earnest Partners LLC now owns 298,162 shares of the utilities provider’s stock valued at $23,904,000 after buying an additional 17,784 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKE. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the 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 is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Stock Performance

OKE opened at $117.05 on Friday. The business’s 50-day simple moving average is $98.87 and its 200 day simple moving average is $88.93. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $68.38 billion, a PE ratio of 24.49, a PEG ratio of 5.82 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.38%. ONEOK’s dividend payout ratio is presently 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.