Farther Finance Advisors LLC Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Farther Finance Advisors LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 14.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,279 shares of the utilities provider’s stock after selling 1,222 shares during the quarter. Farther Finance Advisors LLC’s holdings in ONEOK were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OKE. Rise Advisors LLC purchased a new stake in ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK in the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $31,000. American National Bank acquired a new position in ONEOK during the first quarter worth $32,000. Finally, Security National Bank purchased a new stake in ONEOK in the 4th quarter valued at $35,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE OKE opened at $92.36 on Tuesday. The stock’s 50-day simple moving average is $84.39 and its 200-day simple moving average is $80.71. The firm has a market capitalization of $53.91 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 4.61 and a beta of 1.65. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $92.61. 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 (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping 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 firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business earned $1.04 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.29%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $88.46.

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.