WESPAC Advisors LLC Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

WESPAC Advisors LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,123 shares of the utilities provider’s stock after selling 599 shares during the quarter. WESPAC Advisors LLC’s holdings in ONEOK were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. National Pension Service raised its stake 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 purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. raised its position in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the period. Caxton Associates LP purchased a new position in ONEOK in the second quarter valued at about $1,225,000. Point72 Europe London LLP bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of ONEOK by 11.1% during 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 purchasing an additional 5,451 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OKE shares. Barclays upped their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Price Performance

ONEOK stock opened at $117.05 on Friday. The stock has a market cap of $68.38 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 5.82 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business has a 50-day simple moving average of $98.87 and a 200 day simple moving average of $88.93. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.99 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.38%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity at ONEOK

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

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.