PFG Investments LLC Sells 384 Shares of ONEOK, Inc. (NYSE:OKE)

PFG Investments LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,276 shares of the utilities provider’s stock after selling 384 shares during the period. PFG Investments LLC’s holdings in ONEOK were worth $936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in ONEOK in the 2nd quarter worth about $28,000. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter worth about $31,000. Manchester Capital Management LLC increased its position in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the 3rd quarter worth $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Trading Down 0.8 %

Shares of NYSE:OKE opened at $96.66 on Monday. The stock has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The business has a 50-day moving average price of $92.85 and a 200-day moving average price of $85.33. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Equities analysts predict that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OKE shares. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays boosted their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.77.

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.