SFE Investment Counsel Sells 4,893 Shares of ONEOK, Inc. (NYSE:OKE)

SFE Investment Counsel cut its position in ONEOK, Inc. (NYSE:OKE) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,141 shares of the utilities provider’s stock after selling 4,893 shares during the quarter. ONEOK accounts for about 2.7% of SFE Investment Counsel’s portfolio, making the stock its 6th largest holding. SFE Investment Counsel’s holdings in ONEOK were worth $12,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKE. Rise Advisors LLC acquired a new stake in ONEOK in the first quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK during the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the 2nd quarter valued at approximately $31,000. American National Bank acquired a new position in ONEOK during the 1st quarter worth approximately $32,000. Finally, Security National Bank bought a new position in ONEOK in the 4th quarter valued at approximately $35,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $89.92.

ONEOK Stock Performance

Shares of OKE opened at $91.06 on Friday. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00. The company has a market cap of $53.15 billion, a PE ratio of 21.18, a P/E/G ratio of 3.66 and a beta of 1.67. The stock has a 50-day moving average of $85.25 and a 200-day moving average of $81.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the firm posted $1.04 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.