LexAurum Advisors LLC Lowers Stake in ONEOK, Inc. (NYSE:OKE)

LexAurum Advisors LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 86.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,364 shares of the utilities provider’s stock after selling 20,701 shares during the quarter. LexAurum Advisors LLC’s holdings in ONEOK were worth $307,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in ONEOK during the 1st quarter worth about $25,000. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth about $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK during the third quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the second quarter valued at approximately $31,000. Finally, American National Bank purchased a new stake in ONEOK during the 1st quarter worth approximately $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $97.23 on Friday. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.01. The firm has a market capitalization of $56.79 billion, a P/E ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company’s fifty day moving average price is $91.79 and its 200 day moving average price is $84.65.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Barclays upped their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. 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.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $94.77.

About ONEOK

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.