Sheaff Brock Investment Advisors LLC Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Sheaff Brock Investment Advisors LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,721 shares of the utilities provider’s stock after selling 706 shares during the quarter. ONEOK makes up approximately 0.8% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 26th largest holding. Sheaff Brock Investment Advisors LLC’s holdings in ONEOK were worth $9,543,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OKE. Quest Partners LLC bought a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co bought a new stake in ONEOK during the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $107.88 on Friday. The company has a market cap of $63.02 billion, a P/E ratio of 22.57, a P/E/G ratio of 5.40 and a beta of 1.66. The business’s 50 day moving average price is $95.84 and its 200-day moving average price is $87.24. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $109.21. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. ONEOK’s dividend payout ratio is 82.85%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

About ONEOK

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.