ONEOK, Inc. (NYSE:OKE) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 56.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,417 shares of the utilities provider’s stock after selling 5,829 shares during the quarter. Park Avenue Securities LLC’s holdings in ONEOK were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Navellier & Associates Inc. grew its stake in ONEOK by 6.6% during the 1st quarter. Navellier & Associates Inc. now owns 7,251 shares of the utilities provider’s stock valued at $512,000 after purchasing an additional 447 shares in the last quarter. CoreCap Advisors LLC grew its stake in ONEOK by 74.0% during the 1st quarter. CoreCap Advisors LLC now owns 2,879 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,224 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in ONEOK by 5.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 27,886 shares of the utilities provider’s stock valued at $1,970,000 after purchasing an additional 1,417 shares in the last quarter. Bellwether Advisors LLC grew its stake in ONEOK by 46.7% during the 1st quarter. Bellwether Advisors LLC now owns 35,730 shares of the utilities provider’s stock valued at $2,523,000 after purchasing an additional 11,371 shares in the last quarter. Finally, Welch Group LLC grew its stake in ONEOK by 44.7% during the 1st quarter. Welch Group LLC now owns 10,380 shares of the utilities provider’s stock valued at $733,000 after purchasing an additional 3,207 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

Insider Transactions at ONEOK

In other news, CEO Pierce Norton acquired 8,975 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were bought at an average price of $55.54 per share, with a total value of $498,471.50. Following the purchase, the chief executive officer now owns 9,414 shares of the company’s stock, valued at $522,853.56. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

ONEOK Stock Up 1.5 %

Shares of ONEOK stock opened at $60.04 on Wednesday. The business’s fifty day moving average price is $59.90 and its two-hundred day moving average price is $63.54. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55. The company has a market capitalization of $26.81 billion, a P/E ratio of 17.82, a PEG ratio of 2.04 and a beta of 1.76. ONEOK, Inc. has a 1-year low of $48.51 and a 1-year high of $75.07.

ONEOK (NYSE:OKEGet Rating) last announced its earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.02). The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5 billion. ONEOK had a net margin of 8.01% and a return on equity of 25.33%. During the same period in the previous year, the firm earned $0.86 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 3.76 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Friday, July 29th. ONEOK’s payout ratio is currently 110.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OKE shares. Morgan Stanley decreased their target price on ONEOK from $81.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. US Capital Advisors reiterated an “overweight” rating on shares of ONEOK in a research report on Wednesday, June 1st. Raymond James lifted their target price on ONEOK from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Wells Fargo & Company decreased their target price on ONEOK to $71.00 and set an “equal weight” rating for the company in a research report on Friday, May 20th. Finally, StockNews.com started coverage on ONEOK in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $68.25.

ONEOK Profile

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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