11,352 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by InvesTrust

InvesTrust acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,352 shares of the utilities provider’s stock, valued at approximately $1,144,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter valued at about $47,957,000. Bahl & Gaynor Inc. raised its holdings in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in ONEOK during the third quarter valued at approximately $45,194,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OKE. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $101.00.

ONEOK Trading Up 0.7 %

OKE traded up $0.74 on Wednesday, hitting $102.35. 934,189 shares of the company were exchanged, compared to its average volume of 2,193,674. The stock has a market capitalization of $59.79 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a fifty day simple moving average of $105.22 and a two-hundred day simple moving average of $94.49. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm posted $0.99 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.