Ferguson Wellman Capital Management Inc. Acquires 125 Shares of ONEOK, Inc. (NYSE:OKE)

Ferguson Wellman Capital Management Inc. raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,202 shares of the utilities provider’s stock after purchasing an additional 125 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in ONEOK were worth $839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at about $25,000. Matrix Trust Co bought a new stake in ONEOK during the 3rd quarter valued at about $29,000. Quest Partners LLC bought a new stake in ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new stake in ONEOK during the 2nd quarter valued at about $31,000. Finally, Manchester Capital Management LLC increased its stake in ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

Shares of NYSE:OKE opened at $97.23 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01. The company has a market capitalization of $56.79 billion, a P/E ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. The firm’s 50 day simple moving average is $91.79 and its two-hundred day simple moving average is $84.68.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping 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 firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OKE shares. Barclays raised their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Scotiabank lifted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday. They issued a “buy” rating and a $105.00 price target for the company. Finally, 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 research note on Wednesday. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $94.77.

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.