ONEOK, Inc. (NYSE:OKE) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in ONEOK, Inc. by 7.4% to a total of 123,755 shares worth approximately $12.3 million.
• ONEOK has declared a quarterly dividend of $1.03 per share, representing a 5.05% yield, with a payout ratio of 80.47%.
• Analysts have given ONEOK an average rating of "Moderate Buy" with a consensus price target of $104.86.

Pacer Advisors Inc. trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,755 shares of the utilities provider's stock after selling 9,888 shares during the quarter. Pacer Advisors Inc.'s holdings in ONEOK were worth $12,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Marcum Wealth LLC boosted its position in shares of ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after acquiring an additional 108 shares in the last quarter. West Paces Advisors Inc. raised its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 114 shares during the last quarter. Morey & Quinn Wealth Partners LLC raised its stake in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after acquiring an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. raised its stake in ONEOK by 0.3% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after acquiring an additional 132 shares during the last quarter. Finally, Visionary Wealth Advisors raised its stake in ONEOK by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after acquiring an additional 132 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 1.2%

Shares of OKE traded down $1.01 during trading hours on Wednesday, hitting $82.46. The stock had a trading volume of 663,718 shares, compared to its average volume of 3,942,706. ONEOK, Inc. has a 12-month low of $75.47 and a 12-month high of $118.07. The firm has a market cap of $51.91 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The company's fifty day simple moving average is $81.44 and its 200 day simple moving average is $89.15.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.00%. ONEOK's dividend payout ratio is presently 80.47%.

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Barclays lowered their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, Raymond James Financial lowered their price target on ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, July 22nd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average price target of $104.86.

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.