ONEOK, Inc. (NYSE:OKE) Holdings Boosted by Sage Advisors LLC

Sage Advisors LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,363 shares of the utilities provider’s stock after acquiring an additional 3,303 shares during the period. ONEOK comprises about 3.3% of Sage Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Sage Advisors LLC’s holdings in ONEOK were worth $4,107,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after buying an additional 1,128,066 shares in the last quarter. M&G Plc purchased a new stake in shares of ONEOK in the first quarter worth about $77,634,000. Kayne Anderson Capital Advisors LP lifted its position in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of ONEOK by 36.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock worth $145,782,000 after buying an additional 552,824 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its position in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after purchasing an additional 501,216 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction 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 legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.38.

ONEOK Stock Up 1.2 %

Shares of NYSE:OKE opened at $93.40 on Thursday. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $96.05. The stock has a market cap of $54.55 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 4.46 and a beta of 1.67. The business’s 50 day moving average is $88.63 and its 200 day moving average is $83.32. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.24%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.