Mosaic Financial Group LLC Acquires 3,227 Shares of ONEOK, Inc. (NYSE:OKE)

Mosaic Financial Group LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 48.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,874 shares of the utilities provider’s stock after acquiring an additional 3,227 shares during the quarter. Mosaic Financial Group LLC’s holdings in ONEOK were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter valued at $28,000. Matrix Trust Co purchased a new position in shares of ONEOK during the third quarter valued at about $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter worth about $31,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter worth about $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.0 %

NYSE:OKE opened at $109.00 on Friday. The company has a market cap of $63.68 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 5.48 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50 day simple moving average of $102.43 and a two-hundred day simple moving average of $91.02. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm earned $0.99 EPS. Research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

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.