Icon Wealth Advisors LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

Icon Wealth Advisors LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,234 shares of the utilities provider’s stock after purchasing an additional 4,395 shares during the quarter. Icon Wealth Advisors LLC’s holdings in ONEOK were worth $6,036,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. HM Payson & Co. lifted its holdings in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares during the last quarter. Claro Advisors LLC boosted its position in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the period. Haverford Trust Co raised its holdings in shares of ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares during the period. QRG Capital Management Inc. lifted its stake in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada increased 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. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 available through this link. 0.20% of the stock is owned by insiders.

ONEOK Stock Down 0.8 %

OKE opened at $112.59 on Friday. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business’s fifty day moving average is $100.35 and its two-hundred day moving average is $89.78. The company has a market cap of $65.77 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 5.69 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company 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 previous year, the company posted $0.99 EPS. Analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.