Addis & Hill Inc Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Addis & Hill Inc raised its holdings in ONEOK, Inc. (NYSE:OKE) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,561 shares of the utilities provider’s stock after purchasing an additional 164 shares during the quarter. ONEOK accounts for about 0.5% of Addis & Hill Inc’s holdings, making the stock its 19th biggest position. Addis & Hill Inc’s holdings in ONEOK were worth $689,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR boosted its stake in shares of ONEOK by 1.0% during the 3rd quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock worth $3,739,000 after acquiring an additional 403 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of ONEOK by 5.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,119 shares of the utilities provider’s stock worth $375,000 after acquiring an additional 229 shares in the last quarter. US Bancorp DE boosted its stake in shares of ONEOK by 2.4% during the 3rd quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock worth $7,864,000 after acquiring an additional 2,012 shares in the last quarter. HM Payson & Co. boosted its stake in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of ONEOK by 37.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock worth $526,000 after purchasing an additional 1,582 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 3.6 %

Shares of NYSE OKE opened at $93.36 on Friday. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The firm has a fifty day moving average of $93.66 and a 200-day moving average of $85.82. The stock has a market capitalization of $54.53 billion, a PE ratio of 19.53, a P/E/G ratio of 4.20 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.04 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.24%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

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.