DT Investment Partners LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

DT Investment Partners LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 16.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,795 shares of the utilities provider’s stock after buying an additional 254 shares during the period. DT Investment Partners LLC’s holdings in ONEOK were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in ONEOK in the 2nd quarter worth approximately $28,000. Matrix Trust Co purchased a new position in ONEOK during the third quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new stake in ONEOK in the 2nd quarter valued at $31,000. Manchester Capital Management LLC increased its stake in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the last quarter. Finally, Beacon Capital Management LLC increased its stake in shares of ONEOK by 56.9% in the 1st quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 232 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OKE shares. Wells Fargo & Company upped their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Finally, Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Performance

Shares of ONEOK stock opened at $97.45 on Friday. The stock has a market capitalization of $56.92 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The business has a 50-day moving average of $92.46 and a 200 day moving average of $85.04. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating 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 business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

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.