Amalgamated Bank Has $10.46 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Amalgamated Bank trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,740 shares of the utilities provider’s stock after selling 3,122 shares during the quarter. Amalgamated Bank’s holdings in ONEOK were worth $10,456,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in OKE. Clarity Financial LLC grew its stake in ONEOK by 123.9% in the third quarter. Clarity Financial LLC now owns 153,719 shares of the utilities provider’s stock valued at $14,008,000 after acquiring an additional 85,050 shares during the period. Greenwood Capital Associates LLC bought a new position in shares of ONEOK during the 3rd quarter valued at about $1,617,000. PDS Planning Inc acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $207,000. QRG Capital Management Inc. increased its stake in ONEOK by 6.5% during the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock worth $541,000 after purchasing an additional 364 shares in the last quarter. Finally, National Pension Service raised its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $98.61 on Wednesday. The business’s 50 day moving average is $94.01 and its 200-day moving average is $86.20. The firm has a market cap of $57.61 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.66. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.65. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business posted $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.16 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.02%. ONEOK’s payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. Royal Bank of Canada upped their price target 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. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.92.

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.