Quotient Wealth Partners LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

Quotient Wealth Partners LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,194 shares of the utilities provider’s stock after selling 632 shares during the quarter. Quotient Wealth Partners LLC’s holdings in ONEOK were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth $29,000. Morton Capital Management LLC CA grew its position in shares of ONEOK by 2.5% during the 3rd quarter. Morton Capital Management LLC CA now owns 7,209 shares of the utilities provider’s stock worth $657,000 after buying an additional 173 shares in the last quarter. USA Financial Formulas grew its position in shares of ONEOK by 15.8% during the 3rd quarter. USA Financial Formulas now owns 11,907 shares of the utilities provider’s stock worth $1,085,000 after buying an additional 1,627 shares in the last quarter. Marcum Wealth LLC boosted its position in ONEOK by 1.8% during the third quarter. Marcum Wealth LLC now owns 9,947 shares of the utilities provider’s stock valued at $906,000 after purchasing an additional 176 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its position in shares of ONEOK by 50.0% during the third quarter. Perkins Coie Trust Co now owns 1,500 shares of the utilities provider’s stock valued at $137,000 after buying an additional 500 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other 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 value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Trading Down 0.0 %

Shares of ONEOK stock opened at $94.71 on Friday. The firm has a 50-day simple moving average of $89.85 and a two-hundred day simple moving average of $83.87. The company has a market cap of $55.32 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.05. 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 – Get Free Report) last released 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 the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.18%. ONEOK’s dividend payout ratio is presently 86.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OKE shares. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Mizuho lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada boosted their price objective 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. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.38.

Get Our Latest Analysis on OKE

ONEOK Company Profile

(Free Report)

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.

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