Townsquare Capital LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Townsquare Capital LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,342 shares of the utilities provider’s stock after acquiring an additional 6,767 shares during the period. Townsquare Capital LLC’s holdings in ONEOK were worth $9,782,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK during the third quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the third quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.8 %

ONEOK stock opened at $112.59 on Thursday. The stock has a market cap of $65.77 billion, a PE ratio of 23.55, a P/E/G ratio of 5.56 and a beta of 1.66. The stock has a 50-day moving average price of $99.98 and a 200 day moving average price of $89.62. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business posted $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OKE shares. Wells Fargo & Company increased their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Buying and Selling

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

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.