ONEOK, Inc. (NYSE:OKE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.0% during the first quarter, Holdings Channel reports. The firm owned 94,437 shares of the utilities provider’s stock after selling 12,900 shares during the quarter. Advisors Asset Management Inc.’s holdings in ONEOK were worth $7,571,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK during the first quarter worth $26,000. HHM Wealth Advisors LLC acquired a new position in ONEOK during the fourth quarter worth $32,000. American National Bank acquired a new position in ONEOK during the first quarter worth $32,000. Finally, Security National Bank acquired a new position in ONEOK during the fourth quarter worth $35,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OKE. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Stifel Nicolaus upped their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.83.

ONEOK Stock Up 0.8 %

NYSE:OKE traded up $0.62 during trading hours on Friday, hitting $82.02. The company’s stock had a trading volume of 1,826,739 shares, compared to its average volume of 2,757,052. The stock has a market capitalization of $47.87 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 4.35 and a beta of 1.65. The stock has a fifty day moving average of $81.40 and a 200-day moving average of $77.52. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $86.20.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the prior year, the company posted $2.34 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.01 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

ONEOK Company 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.