ONEOK, Inc. (OKE) Position Lowered by Usca Ria LLC

Usca Ria LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 26.3% in the third quarter, HoldingsChannel.com reports. The firm owned 4,705 shares of the utilities provider’s stock after selling 1,680 shares during the quarter. Usca Ria LLC’s holdings in ONEOK were worth $319,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OKE. BlackRock Inc. boosted its stake in shares of ONEOK by 9.8% during the 2nd quarter. BlackRock Inc. now owns 36,629,660 shares of the utilities provider’s stock worth $2,557,848,000 after purchasing an additional 3,276,879 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of ONEOK during the 2nd quarter worth about $94,768,000. First Trust Advisors LP boosted its stake in shares of ONEOK by 266.5% during the 3rd quarter. First Trust Advisors LP now owns 527,768 shares of the utilities provider’s stock worth $35,777,000 after purchasing an additional 383,754 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of ONEOK by 30.0% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,537,479 shares of the utilities provider’s stock worth $104,226,000 after purchasing an additional 355,103 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of ONEOK by 26.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,669,851 shares of the utilities provider’s stock worth $116,606,000 after purchasing an additional 354,118 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

NYSE:OKE opened at $63.97 on Friday. ONEOK, Inc. has a one year low of $49.65 and a one year high of $71.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.51. The stock has a market capitalization of $26.20 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.31 billion. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same quarter in the previous year, the business posted $0.43 EPS. Research analysts forecast that ONEOK, Inc. will post 2.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be paid a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Friday, November 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s payout ratio is 194.32%.

OKE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Friday, July 20th. US Capital Advisors reiterated a “buy” rating on shares of ONEOK in a report on Tuesday, July 17th. Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Tuesday, October 16th. Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, October 19th. Finally, ValuEngine upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. ONEOK presently has an average rating of “Buy” and an average price target of $70.31.

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ONEOK Company Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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