Blackston Financial Advisory Group LLC Trims Stake in ONEOK, Inc. (NYSE:OKE)

Blackston Financial Advisory Group LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,697 shares of the utilities provider’s stock after selling 660 shares during the period. Blackston Financial Advisory Group LLC’s holdings in ONEOK were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter valued at $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in ONEOK in the 2nd quarter worth about $31,000. Manchester Capital Management LLC lifted its holdings in 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 in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in ONEOK in the 3rd quarter valued at about $44,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OKE shares. Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Citigroup increased their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Price Performance

NYSE OKE opened at $97.45 on Friday. The firm’s fifty day simple moving average is $92.46 and its two-hundred day simple moving average is $85.04. The firm has a market capitalization of $56.92 billion, a P/E ratio of 21.23, a P/E/G ratio of 4.31 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share 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 firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the firm earned $1.04 EPS. Analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

ONEOK Company Profile

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.