Russell Investments Group Ltd. Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Russell Investments Group Ltd. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,648 shares of the utilities provider’s stock after selling 24,074 shares during the quarter. Russell Investments Group Ltd.’s holdings in ONEOK were worth $21,322,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Resurgent Financial Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $29,000. WealthPLAN Partners LLC purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $29,000. Grove Bank & Trust increased its holdings in shares of ONEOK by 211.2% during the 1st quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $30,000. Finally, Quarry LP purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $31,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.4 %

Shares of OKE stock opened at $66.89 on Tuesday. The stock has a market cap of $38.97 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.72 and a beta of 1.71. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $71.57. The company’s 50-day moving average price is $66.01 and its 200-day moving average price is $63.80. The company has a current ratio of 0.97, a quick ratio of 0.66 and a debt-to-equity ratio of 1.32.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.03). The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.96 billion. ONEOK had a net margin of 14.05% and a return on equity of 26.44%. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.5 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were issued a $0.955 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $3.82 annualized dividend and a yield of 5.71%. ONEOK’s dividend payout ratio (DPR) is currently 70.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of ONEOK from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Scotiabank raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Monday, October 2nd. StockNews.com started coverage on shares of ONEOK in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho lifted their target price on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada lifted their target price on shares of ONEOK from $69.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.00.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.