Navellier & Associates Inc. Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Navellier & Associates Inc. lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,709 shares of the utilities provider’s stock after selling 1,226 shares during the quarter. Navellier & Associates Inc.’s holdings in ONEOK were worth $765,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OKE. Brighton Jones LLC boosted its holdings in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Sei Investments Co. boosted its holdings in ONEOK by 10.8% during the 4th quarter. Sei Investments Co. now owns 183,340 shares of the utilities provider’s stock valued at $18,407,000 after acquiring an additional 17,910 shares during the period. Congress Wealth Management LLC DE boosted its holdings in ONEOK by 187.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 8,365 shares of the utilities provider’s stock valued at $840,000 after acquiring an additional 5,455 shares during the period. Financial Counselors Inc. boosted its holdings in ONEOK by 9.1% during the 4th quarter. Financial Counselors Inc. now owns 12,043 shares of the utilities provider’s stock valued at $1,209,000 after acquiring an additional 1,002 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ONEOK by 10.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 923,670 shares of the utilities provider’s stock valued at $95,046,000 after acquiring an additional 86,056 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OKE. Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Scotiabank set a $92.00 target price on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Citigroup lowered their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.53.

ONEOK Trading Down 0.5%

Shares of NYSE OKE opened at $81.57 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market capitalization of $51.35 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The business has a fifty day moving average price of $81.50 and a 200 day moving average price of $89.51.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the company earned $1.09 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.05%. The ex-dividend date is Friday, August 1st. ONEOK’s dividend payout ratio is currently 80.47%.

ONEOK 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.