ONEOK, Inc. $OKE Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 71.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,329 shares of the utilities provider’s stock after selling 291,200 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in ONEOK were worth $8,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. purchased a new position in shares of ONEOK in the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates acquired a new stake in ONEOK in the third quarter valued at $29,000. Financial Consulate Inc. acquired a new position in shares of ONEOK during the 3rd quarter worth about $29,000. Access Investment Management LLC acquired a new stake in ONEOK during the second quarter worth approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OKE shares. UBS Group cut their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup lowered their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Scotiabank reissued an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.56.

ONEOK Trading Down 0.6%

Shares of OKE stock opened at $77.54 on Tuesday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64. The firm has a market capitalization of $48.79 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The stock has a fifty day moving average of $73.29 and a two-hundred day moving average of $73.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the company earned $1.18 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is currently 75.74%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.