Pathway Financial Advisers LLC Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

Pathway Financial Advisers LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,160 shares of the utilities provider’s stock after selling 126 shares during the quarter. Pathway Financial Advisers LLC’s holdings in ONEOK were worth $5,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth about $29,000. Quest Partners LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at $31,000. Manchester Capital Management LLC grew its stake in shares of ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter worth $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OKE shares. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup increased 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. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $94.77.

View Our Latest Stock Report on OKE

ONEOK Stock Down 0.8 %

Shares of ONEOK stock traded down $0.76 during trading on Friday, reaching $96.66. The company had a trading volume of 2,171,218 shares, compared to its average volume of 2,726,321. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The firm’s fifty day moving average is $92.85 and its 200-day moving average is $85.25. The company has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE – Get Free Report) last released 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. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $1.04 EPS. On average, analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared 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 4.10%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK 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.

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