Bridges Investment Management Inc. Has $458,000 Position in ONEOK, Inc. (NYSE:OKE)

Bridges Investment Management Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 103.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,619 shares of the utilities provider’s stock after purchasing an additional 2,853 shares during the quarter. Bridges Investment Management Inc.’s holdings in ONEOK were worth $458,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new position in ONEOK during the 1st quarter worth about $26,000. Quest Partners LLC acquired a new stake in shares of ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the second quarter valued at about $31,000. Finally, American National Bank acquired a new position in shares of ONEOK during the first quarter worth about $32,000. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.2 %

Shares of ONEOK stock opened at $93.97 on Friday. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $95.28. The company has a market capitalization of $54.89 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.64 and a beta of 1.67. The business has a fifty day simple moving average of $87.24 and a two-hundred day simple moving average of $82.46. 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 (NYSE:OKE) last announced 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. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the firm posted $1.04 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Insider Buying and Selling

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 stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on OKE shares. Royal Bank of Canada boosted their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.38.

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.