Xponance Inc. Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Xponance Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,156 shares of the utilities provider’s stock after selling 3,662 shares during the quarter. Xponance Inc.’s holdings in ONEOK were worth $6,618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OKE. Rise Advisors LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter valued at about $31,000. Finally, American National Bank bought a new position in ONEOK during the 1st quarter valued at about $32,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

Shares of OKE opened at $95.24 on Wednesday. The company has a 50 day moving average price of $87.65 and a 200-day moving average price of $82.74. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $96.05. The stock has a market capitalization of $55.63 billion, a PE ratio of 22.15, a PEG ratio of 4.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping 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 firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.16%. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Barclays upped their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $92.38.

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.