Elevated Capital Advisors LLC Sells 130 Shares of ONEOK, Inc. (NYSE:OKE)

Elevated Capital Advisors LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,917 shares of the utilities provider’s stock after selling 130 shares during the period. Elevated Capital Advisors LLC’s holdings in ONEOK were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after buying an additional 122 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of ONEOK by 1.1% during the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after buying an additional 122 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of ONEOK by 1.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock valued at $839,000 after buying an additional 125 shares during the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in shares of ONEOK by 4.3% during the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after buying an additional 131 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $97.37 on Wednesday. The firm has a market cap of $56.87 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 4.20 and a beta of 1.67. 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, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. The firm’s 50-day simple moving average is $92.25 and its two-hundred day simple moving average is $84.96.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.07%. ONEOK’s dividend payout ratio is currently 86.27%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

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.