ONEOK, Inc. (NYSE:OKE) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,210 shares of the utilities provider's stock after selling 4,632 shares during the quarter. Redwood Investment Management LLC's holdings in ONEOK were worth $1,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co acquired a new position in ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the second quarter worth about $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the third quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock traded down $1.19 on Friday, hitting $108.94. The company's stock had a trading volume of 2,159,966 shares, compared to its average volume of 2,808,672. The company has a market capitalization of $63.64 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 5.59 and a beta of 1.69. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a fifty day moving average price of $102.06 and a 200-day moving average price of $90.78. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) 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. On average, equities research analysts expect that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's payout ratio is 82.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 target price for the company. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $101.00.

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.