Victory Capital Management Inc. Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Victory Capital Management Inc. cut its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 510,893 shares of the utilities provider's stock after selling 26,391 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of ONEOK worth $46,558,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. National Pension Service lifted 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 purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter valued at approximately $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK during the 2nd quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its holdings in ONEOK by 11.1% in the third 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 during the period. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Royal Bank of Canada raised their price target 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. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a report on Friday, August 30th. Mizuho upgraded ONEOK to a "hold" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley upgraded shares of ONEOK from an "equal weight" rating to an "overweight" rating and lifted their target price 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

ONEOK Trading Up 1.8 %

Shares of NYSE OKE traded up $1.93 during midday trading on Friday, hitting $109.81. The company's stock had a trading volume of 3,500,516 shares, compared to its average volume of 2,766,329. The business's 50 day moving average is $96.54 and its two-hundred day moving average is $87.58. The firm has a market cap of $64.15 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a 12-month low of $64.68 and a 12-month high of $110.05. 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 issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for 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 prior year, the company posted $0.99 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's dividend payout ratio (DPR) is presently 82.85%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the company's stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company's stock.

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.