ONEOK, Inc. (NYSE:OKE) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,297 shares of the utilities provider’s stock after selling 306 shares during the period. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in ONEOK during the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the first quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. American National Bank purchased a new position in ONEOK in the 1st quarter valued at $32,000. Finally, Manchester Capital Management LLC increased its stake in ONEOK by 66.4% in 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 during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $91.06 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $85.25 and its 200 day moving average price is $81.13. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $93.00. The stock has a market cap of $53.15 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.66 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the business earned $1.04 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.05 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKE. Royal Bank of Canada boosted their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley boosted their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $89.92.

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.