Johnson Investment Counsel Inc. Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Johnson Investment Counsel Inc. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,557 shares of the utilities provider’s stock after selling 584 shares during the period. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP raised its holdings in shares of ONEOK by 50.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,841,522 shares of the utilities provider’s stock valued at $113,659,000 after acquiring an additional 618,166 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of ONEOK by 6.7% in the 2nd quarter. Independent Advisor Alliance now owns 9,541 shares of the utilities provider’s stock valued at $589,000 after acquiring an additional 600 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of ONEOK by 23.1% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,838 shares of the utilities provider’s stock valued at $1,006,000 after acquiring an additional 2,974 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of ONEOK by 7.8% in the 2nd quarter. RFG Advisory LLC now owns 21,489 shares of the utilities provider’s stock valued at $1,326,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of ONEOK by 3.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 750,730 shares of the utilities provider’s stock valued at $46,335,000 after acquiring an additional 28,161 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James raised their price target on ONEOK from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Royal Bank of Canada raised their price objective on ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday, November 16th. Wells Fargo & Company reduced their price target on ONEOK from $75.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, August 11th. Mizuho raised their price target on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, StockNews.com assumed coverage on ONEOK in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and a consensus price target of $75.00.

ONEOK Trading Up 0.4 %

NYSE OKE opened at $66.89 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.97 and a debt-to-equity ratio of 1.32. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $71.57. The firm has a market capitalization of $38.97 billion, a PE ratio of 12.27, a P/E/G ratio of 1.72 and a beta of 1.71. The stock’s 50 day moving average is $66.01 and its 200 day moving average is $63.80.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.03). ONEOK had a net margin of 14.05% and a return on equity of 26.44%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.5 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were given a dividend of $0.955 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $3.82 annualized dividend and a dividend yield of 5.71%. ONEOK’s dividend payout ratio is presently 70.09%.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.