Asset Management One Co. Ltd. Sells 6,202 Shares of ONEOK, Inc. (NYSE:OKE)

Asset Management One Co. Ltd. lowered its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,146 shares of the utilities provider's stock after selling 6,202 shares during the period. Asset Management One Co. Ltd.'s holdings in ONEOK were worth $19,606,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OKE. Norden Group LLC raised its holdings in shares of ONEOK by 153.1% in the 1st quarter. Norden Group LLC now owns 7,458 shares of the utilities provider's stock worth $598,000 after purchasing an additional 4,511 shares during the period. Nordea Investment Management AB grew its stake in ONEOK by 4.5% during the first quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider's stock worth $2,827,000 after buying an additional 1,513 shares during the period. Whittier Trust Co. increased its position in shares of ONEOK by 7.9% in the first quarter. Whittier Trust Co. now owns 9,964 shares of the utilities provider's stock worth $799,000 after acquiring an additional 727 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of ONEOK in the 1st quarter valued at $88,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of ONEOK by 24.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,564 shares of the utilities provider's stock valued at $2,210,000 after acquiring an additional 5,439 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on OKE. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a report on Monday. Tudor Pickering raised shares of ONEOK to a "hold" rating in a research report on Thursday, July 18th. Finally, Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.92.

ONEOK Stock Up 4.4 %

Shares of ONEOK stock traded up $4.37 on Wednesday, hitting $102.98. 2,744,693 shares of the company traded hands, compared to its average volume of 2,739,671. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $103.09. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $60.16 billion, a PE ratio of 20.63, a PEG ratio of 3.98 and a beta of 1.66. The company has a 50-day moving average price of $94.01 and a 200 day moving average price of $86.20.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the company earned $0.99 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.16 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 3.85%. ONEOK's dividend payout ratio (DPR) is 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

About ONEOK

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.