J.W. Cole Advisors Inc. Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

J.W. Cole Advisors Inc. lessened its stake in ONEOK, Inc. (NYSE:OKEGet Rating) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,106 shares of the utilities provider’s stock after selling 588 shares during the period. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Worth Asset Management LLC acquired a new stake in shares of ONEOK during the first quarter worth about $30,000. Covestor Ltd acquired a new stake in shares of ONEOK during the fourth quarter worth about $31,000. DeDora Capital Inc. acquired a new stake in shares of ONEOK during the first quarter worth about $32,000. Bank of New Hampshire purchased a new position in ONEOK during the first quarter worth about $35,000. Finally, Motco purchased a new position in ONEOK during the first quarter worth about $35,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $60.22 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.15 and a beta of 1.68. The firm’s fifty day simple moving average is $60.80 and its 200 day simple moving average is $63.54. ONEOK, Inc. has a twelve month low of $52.11 and a twelve month high of $75.07.

ONEOK (NYSE:OKEGet Rating) last posted its earnings results on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). ONEOK had a net margin of 7.37% and a return on equity of 26.32%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue was up 76.9% compared to the same quarter last year. As a group, equities research analysts expect that ONEOK, Inc. will post 3.71 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were given a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Friday, July 29th. ONEOK’s payout ratio is currently 106.25%.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. Mizuho increased their price target on shares of ONEOK from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. US Capital Advisors reaffirmed an “overweight” rating on shares of ONEOK in a report on Wednesday, June 1st. Barclays dropped their target price on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Finally, Morgan Stanley dropped their target price on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average price target of $68.42.

About ONEOK

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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