Nwam LLC Acquires Shares of 2,454 ONEOK, Inc. (NYSE:OKE)

Nwam LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,454 shares of the utilities provider’s stock, valued at approximately $224,000.

Several other hedge funds also recently made changes to their positions in the business. National Pension Service increased its stake in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its position in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Caxton Associates LP acquired a new position in ONEOK in the second quarter valued at about $1,225,000. Point72 Europe London LLP bought a new stake in ONEOK during the second quarter worth about $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ONEOK Price Performance

OKE stock opened at $111.46 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The company has a market capitalization of $65.11 billion, a P/E ratio of 23.32, a PEG ratio of 5.84 and a beta of 1.66. The company has a fifty day moving average price of $99.23 and a 200-day moving average price of $89.22.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (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 company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is presently 82.85%.

Insider Buying and Selling at ONEOK

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

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.