Wells Fargo & Company MN Trims Position in ONEOK, Inc. (NYSE:OKE)

Wells Fargo & Company MN trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 936,143 shares of the utilities provider’s stock after selling 71,697 shares during the period. Wells Fargo & Company MN owned 0.21% of ONEOK worth $24,320,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OKE. Vanguard Group Inc. raised its holdings in ONEOK by 4.8% during the second quarter. Vanguard Group Inc. now owns 51,850,265 shares of the utilities provider’s stock worth $1,722,467,000 after purchasing an additional 2,370,633 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 51.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,271,585 shares of the utilities provider’s stock valued at $175,123,000 after buying an additional 1,792,621 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ONEOK by 19.5% in the second quarter. Bank of New York Mellon Corp now owns 8,494,027 shares of the utilities provider’s stock valued at $282,171,000 after buying an additional 1,386,911 shares in the last quarter. Prudential PLC increased its holdings in ONEOK by 81.6% in the third quarter. Prudential PLC now owns 2,855,001 shares of the utilities provider’s stock valued at $74,173,000 after buying an additional 1,282,900 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in ONEOK in the second quarter valued at about $35,203,000. 66.65% of the stock is owned by institutional investors and hedge funds.

OKE opened at $32.96 on Friday. ONEOK, Inc. has a twelve month low of $12.16 and a twelve month high of $78.48. The firm’s 50-day simple moving average is $29.43 and its 200-day simple moving average is $30.50. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.57. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.81 and a beta of 2.02.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 27th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.11. ONEOK had a net margin of 7.24% and a return on equity of 18.38%. During the same period last year, the firm posted $0.74 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 2.53 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Monday, November 2nd were given a $0.935 dividend. The ex-dividend date of this dividend was Friday, October 30th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 11.35%. ONEOK’s dividend payout ratio is 121.82%.

Several research firms have recently commented on OKE. The Goldman Sachs Group lowered shares of ONEOK from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a research report on Wednesday, October 14th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a report on Monday, September 21st. Royal Bank of Canada lifted their price target on shares of ONEOK from $31.00 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Credit Suisse Group raised their target price on shares of ONEOK from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Finally, Morgan Stanley cut their target price on shares of ONEOK from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. ONEOK currently has a consensus rating of “Hold” and a consensus price target of $35.26.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

See Also: Earnings Per Share

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.