PSI Advisors LLC Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

PSI Advisors LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,775 shares of the utilities provider’s stock after selling 152 shares during the period. PSI Advisors LLC’s holdings in ONEOK were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. increased its holdings in ONEOK by 8.6% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,965 shares of the utilities provider’s stock valued at $361,000 after buying an additional 313 shares during the last quarter. International Assets Investment Management LLC increased its holdings 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 valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Axecap Investments LLC purchased a new stake in ONEOK during the third quarter valued at approximately $1,038,000. Sprinkle Financial Consultants LLC increased its holdings in ONEOK by 25.4% during the third quarter. Sprinkle Financial Consultants LLC now owns 90,416 shares of the utilities provider’s stock valued at $8,240,000 after buying an additional 18,328 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in ONEOK by 1.7% during the third quarter. Greenleaf Trust now owns 9,512 shares of the utilities provider’s stock valued at $867,000 after buying an additional 155 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other ONEOK 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. Royal Bank of Canada upped 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. Barclays upped their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

Check Out Our Latest Research Report on OKE

ONEOK Price Performance

Shares of NYSE:OKE opened at $97.50 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a fifty day moving average price of $92.46 and a 200 day moving average price of $85.04. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 4.20 and a beta of 1.67.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business earned $1.04 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

ONEOK Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Free Report).