Arete Wealth Advisors LLC Has $1.17 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Arete Wealth Advisors LLC cut its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 38.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,875 shares of the utilities provider's stock after selling 8,085 shares during the quarter. Arete Wealth Advisors LLC's holdings in ONEOK were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OKE. Sunbelt Securities Inc. grew its stake in ONEOK by 42.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,875 shares of the utilities provider's stock valued at $991,000 after purchasing an additional 3,226 shares in the last quarter. Toronto Dominion Bank grew its position in shares of ONEOK by 1.3% during the third quarter. Toronto Dominion Bank now owns 310,095 shares of the utilities provider's stock worth $28,259,000 after buying an additional 3,865 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of ONEOK in the third quarter worth $726,000. Coldstream Capital Management Inc. raised its holdings in ONEOK by 24.3% in the third quarter. Coldstream Capital Management Inc. now owns 39,947 shares of the utilities provider's stock valued at $3,752,000 after acquiring an additional 7,814 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock valued at $1,242,449,000 after acquiring an additional 138,430 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.1 %

OKE stock traded up $0.14 during mid-day trading on Thursday, reaching $104.47. 2,015,116 shares of the stock traded hands, compared to its average volume of 2,805,270. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The stock's fifty day moving average is $103.17 and its 200-day moving average is $91.52. The company has a market cap of $61.03 billion, a P/E ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69. 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 - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.79%. ONEOK's dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKE shares. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research note on Friday, August 30th. US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Finally, Mizuho upgraded ONEOK to a "hold" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.00.

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.