Oxbow Advisors LLC Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Oxbow Advisors LLC decreased its stake in ONEOK, Inc. (NYSE:OKE) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,862 shares of the utilities provider’s stock after selling 421 shares during the period. Oxbow Advisors LLC’s holdings in ONEOK were worth $967,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Hilltop Holdings Inc. lifted its position in shares of ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares in the last quarter. TD Asset Management Inc raised its stake in ONEOK by 11.6% during the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after buying an additional 21,657 shares in the last quarter. Norden Group LLC lifted its holdings in ONEOK by 4,460.2% during the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after buying an additional 131,441 shares during the last quarter. Wellington Management Group LLP grew its position in shares of ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of ONEOK by 8.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock valued at $8,510,000 after acquiring an additional 9,722 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE traded down $0.75 on Friday, reaching $91.06. The company had a trading volume of 3,207,326 shares, compared to its average volume of 2,767,778. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00. The company has a market capitalization of $53.15 billion, a P/E ratio of 21.18, a PEG ratio of 3.66 and a beta of 1.67. The company has a fifty day moving average of $85.25 and a 200-day moving average of $81.13. 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 (NYSE:OKE) last announced its 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. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the company earned $1.04 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.05 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OKE. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Royal Bank of Canada lifted their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.92.

ONEOK 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.