Transce3nd LLC Sells 4,307 Shares of ONEOK, Inc. (NYSE:OKE)

Transce3nd LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 83.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 831 shares of the utilities provider's stock after selling 4,307 shares during the quarter. Transce3nd LLC's holdings in ONEOK were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of ONEOK during the 4th quarter valued at approximately $539,554,000. Wellington Management Group LLP raised its position in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after purchasing an additional 1,971,147 shares during the last quarter. ClearBridge Investments Ltd acquired a new position in shares of ONEOK during the 4th quarter worth approximately $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ONEOK by 445.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock worth $153,319,000 after purchasing an additional 1,246,963 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OKE shares. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Citigroup decreased their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Barclays decreased their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Finally, TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.07.

ONEOK Price Performance

NYSE:OKE traded up $2.18 during trading hours on Friday, reaching $83.42. 4,553,712 shares of the company's stock were exchanged, compared to its average volume of 3,492,203. The business's 50-day simple moving average is $81.97 and its two-hundred day simple moving average is $90.21. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $52.52 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is presently 80.47%.

ONEOK 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.