ONEOK, Inc. $OKE Shares Sold by Compass Financial Management LLC

Key Points

• Compass Financial Management cut its ONEOK stake by 41.3% in the third quarter, selling 12,895 shares and ending the period with 18,296 shares worth about $1.56 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $99.25; ONEOK shares opened at $86.26 in the article’s cited session.
• ONEOK reported quarterly EPS of $2.13, beating the $1.50 consensus, and announced a quarterly dividend of $1.07 per share—an annualized yield of about 5%.

Compass Financial Management LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 41.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,296 shares of the utilities provider's stock after selling 12,895 shares during the period. Compass Financial Management LLC's holdings in ONEOK were worth $1,560,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OKE. Pin Oak Investment Advisors Inc. purchased a new position in shares of ONEOK during the second quarter worth $28,000. Transamerica Financial Advisors LLC boosted its holdings in ONEOK by 69.6% in the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 149 shares during the last quarter. Wilkerson Advisory Group LLC boosted its holdings in ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 133 shares during the last quarter. Meeder Asset Management Inc. grew its position in ONEOK by 46.0% during the 1st quarter. Meeder Asset Management Inc. now owns 400 shares of the utilities provider's stock worth $36,000 after purchasing an additional 126 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in ONEOK during the 2nd quarter worth about $39,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Seaport Research Partners lifted their price objective on ONEOK from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Capital One Financial assumed coverage on ONEOK in a research note on Tuesday, September 22nd. They issued an "overweight" rating and a $110.00 target price on the stock. Morgan Stanley raised their target price on ONEOK from $105.00 to $112.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 9th. TD Cowen reiterated a "hold" rating on shares of ONEOK in a research report on Friday, October 16th. Finally, UBS Group set a $93.00 price target on ONEOK in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.25.

ONEOK Trading Down 2.6%

OKE stock opened at $86.26 on Friday. ONEOK, Inc. has a 52-week low of $66.93 and a 52-week high of $99.85. The company has a quick ratio of 0.66, a current ratio of 0.84 and a debt-to-equity ratio of 0.83. The firm has a market cap of $54.38 billion, a P/E ratio of 13.39, a PEG ratio of 1.62 and a beta of 0.77. The company's 50-day simple moving average is $92.58 and its 200-day simple moving average is $88.89.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.63. ONEOK had a return on equity of 16.36% and a net margin of 9.42%. The firm had revenue of $12.46 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the previous year, the business earned $1.49 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 6.23 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, November 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. ONEOK's dividend payout ratio (DPR) is 66.46%.

ONEOK Profile

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.

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