Revolve Wealth Partners LLC Acquires Shares of 5,624 ONEOK, Inc. (NYSE:OKE)

Revolve Wealth Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,624 shares of the utilities provider’s stock, valued at approximately $513,000.

A number of other large investors also recently modified their holdings of OKE. Wellington Management Group LLP boosted its holdings in shares of ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new position in shares of ONEOK in the 1st quarter valued at $77,634,000. Kayne Anderson Capital Advisors LP boosted its holdings in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after buying an additional 484,403 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.8 %

OKE stock opened at $97.23 on Friday. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.01. The stock has a market capitalization of $56.79 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a fifty day moving average of $91.79 and a 200-day moving average of $84.68.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the business earned $1.04 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. ONEOK’s dividend payout ratio is presently 86.27%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKE. Wells Fargo & Company upped their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Barclays increased their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $94.77.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Company 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.