Traders Sell ONEOK (OKE) on Strength (OKE)

Investors sold shares of ONEOK, Inc. (NYSE:OKE) on strength during trading on Friday. $19.99 million flowed into the stock on the tick-up and $37.46 million flowed out of the stock on the tick-down, for a money net flow of $17.47 million out of the stock. Of all companies tracked, ONEOK had the 0th highest net out-flow for the day. ONEOK traded up $0.16 for the day and closed at $68.90

A number of research firms recently weighed in on OKE. Seaport Global Securities set a $73.00 price target on shares of ONEOK and gave the stock a “hold” rating in a research report on Friday, July 27th. Bank of America lifted their target price on shares of ONEOK from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, August 2nd. Stifel Nicolaus lifted their target price on shares of ONEOK from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Friday, July 20th. Finally, Jefferies Financial Group downgraded shares of ONEOK from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $69.00.

The company has a market cap of $28.27 billion, a PE ratio of 39.15, a P/E/G ratio of 2.67 and a beta of 1.02. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.04.



ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.20 billion. ONEOK had a net margin of 6.07% and a return on equity of 14.70%. analysts anticipate that ONEOK, Inc. will post 2.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Monday, August 6th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.79%. This is an increase from ONEOK’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, August 3rd. ONEOK’s payout ratio is 187.50%.

In related news, Director Brian L. Derksen purchased 1,500 shares of ONEOK stock in a transaction dated Monday, August 6th. The shares were acquired at an average cost of $67.60 per share, with a total value of $101,400.00. Following the purchase, the director now owns 5,100 shares of the company’s stock, valued at $344,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in OKE. BerganKDV Wealth Management LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $117,000. Private Capital Group LLC grew its holdings in shares of ONEOK by 12,150.0% in the first quarter. Private Capital Group LLC now owns 2,205 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 2,187 shares in the last quarter. SWS Partners acquired a new position in shares of ONEOK in the first quarter valued at approximately $138,000. Archford Capital Strategies LLC acquired a new position in shares of ONEOK in the first quarter valued at approximately $148,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of ONEOK in the first quarter valued at approximately $148,000. 73.69% of the stock is currently owned by institutional investors and hedge funds.

About ONEOK

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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