Entropy Technologies LP Trims Stake in ONEOK, Inc. (NYSE:OKE)

Entropy Technologies LP decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 79.0% during the third quarter, Holdings Channel reports. The fund owned 7,489 shares of the utilities provider’s stock after selling 28,235 shares during the period. Entropy Technologies LP’s holdings in ONEOK were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. National Pension Service grew its holdings in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its stake in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of ONEOK in the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP purchased a new stake in shares of ONEOK in the 2nd quarter worth approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

Shares of ONEOK stock opened at $107.88 on Friday. ONEOK, Inc. has a one year low of $64.68 and a one year high of $109.21. The stock’s fifty day moving average is $95.84 and its 200 day moving average is $87.24. The stock has a market cap of $63.02 billion, a P/E ratio of 22.57, a P/E/G ratio of 5.38 and a beta of 1.66. 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 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Scotiabank upped 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. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK 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.