ONEOK, Inc. (NYSE:OKE) Shares Sold by Garrison Point Advisors LLC

Garrison Point Advisors LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,482 shares of the utilities provider’s stock after selling 1,000 shares during the period. Garrison Point Advisors LLC’s holdings in ONEOK were worth $773,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OKE. International Assets Investment Management LLC lifted its stake in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. M&G Plc acquired a new position in shares of ONEOK in the 1st quarter valued at $77,634,000. Kayne Anderson Capital Advisors LP grew its position in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after acquiring an additional 484,403 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. Barclays lifted their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Royal Bank of Canada lifted 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. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Stock Performance

Shares of OKE stock opened at $97.45 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $92.46 and a 200-day simple moving average of $85.04. The company has a market cap of $56.92 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion during 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 prior year, the business posted $1.04 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 86.27%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.