International Assets Investment Management LLC Sells 3,194,972 Shares of ONEOK, Inc. (NYSE:OKE)

International Assets Investment Management LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 98.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,017 shares of the utilities provider’s stock after selling 3,194,972 shares during the period. International Assets Investment Management LLC’s holdings in ONEOK were worth $3,665,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. National Pension Service grew 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 acquiring an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. boosted its position in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of ONEOK in the second quarter worth $1,225,000. Point72 Europe London LLP acquired a new stake in ONEOK during the 2nd quarter worth about $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its position in ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.19 on Wednesday, reaching $101.80. 257,019 shares of the company were exchanged, compared to its average volume of 2,045,601. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $105.22 and a 200-day moving average of $94.49. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The firm has a market cap of $59.47 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the company earned $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

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.