Royal Capital Wealth Management LLC Purchases Shares of 2,296 ONEOK, Inc. (NYSE:OKE)

Royal Capital Wealth Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,296 shares of the utilities provider’s stock, valued at approximately $209,000.

A number of other large investors also recently made changes to their positions in the company. HM Payson & Co. increased its holdings in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. Claro Advisors LLC increased its stake in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after buying an additional 115 shares during the period. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares during the last quarter. QRG Capital Management Inc. boosted its position in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $113.60 on Friday. The firm has a market capitalization of $66.36 billion, a P/E ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66. The firm’s 50-day moving average price is $100.75 and its 200-day moving average price is $90.07. 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, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Insider Buying and Selling at ONEOK

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OKE shares. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Barclays raised their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK 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.