Cowa LLC Has $5.39 Million Stake in ONEOK, Inc. (NYSE:OKE)

Cowa LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,093 shares of the utilities provider's stock after selling 5,150 shares during the period. ONEOK comprises approximately 2.6% of Cowa LLC's investment portfolio, making the stock its 10th biggest position. Cowa LLC's holdings in ONEOK were worth $5,385,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Duality Advisers LP acquired a new stake in ONEOK during the 1st quarter worth about $375,000. Empirical Finance LLC lifted its position in shares of ONEOK by 7.4% in the 1st quarter. Empirical Finance LLC now owns 10,799 shares of the utilities provider's stock valued at $866,000 after acquiring an additional 743 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider's stock worth $381,000 after purchasing an additional 844 shares during the period. PFG Advisors purchased a new position in ONEOK during the 1st quarter worth approximately $449,000. Finally, Capital Wealth Planning LLC purchased a new position in ONEOK during the 1st quarter worth approximately $243,000. Institutional investors and hedge funds 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Stock Performance

Shares of OKE stock traded up $3.02 during trading on Friday, reaching $107.16. The company had a trading volume of 3,580,082 shares, compared to its average volume of 2,621,994. The company has a market capitalization of $62.60 billion, a PE ratio of 22.42, a PEG ratio of 5.10 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm's 50 day simple moving average is $94.86 and its two-hundred day simple moving average is $86.63. ONEOK, Inc. has a one year low of $63.77 and a one year high of $107.19.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

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 given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Friday, November 1st. ONEOK's dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price objective on ONEOK from $100.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 target price on the stock. Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average target price of $96.92.

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.