Frank Rimerman Advisors LLC Buys Shares of 10,307 ONEOK, Inc. (NYSE:OKE)

Frank Rimerman Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,307 shares of the utilities provider’s stock, valued at approximately $841,000.

Several other institutional investors have also made changes to their positions in OKE. Cambridge Investment Research Advisors Inc. lifted its stake in ONEOK by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock valued at $10,001,000 after acquiring an additional 5,867 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in ONEOK by 28.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 16,118 shares of the utilities provider’s stock worth $1,132,000 after purchasing an additional 3,581 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in ONEOK by 6.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 161,908 shares of the utilities provider’s stock worth $11,369,000 after purchasing an additional 9,713 shares in the last quarter. Hsbc Holdings PLC raised its holdings in ONEOK by 30.4% during the fourth quarter. Hsbc Holdings PLC now owns 1,516,686 shares of the utilities provider’s stock valued at $106,582,000 after buying an additional 353,744 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its position in shares of ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 1,124 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 1.4 %

NYSE OKE opened at $95.28 on Tuesday. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $95.38. The company has a market capitalization of $55.65 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 4.64 and a beta of 1.67. The stock’s 50 day moving average is $87.45 and its two-hundred day moving average is $82.62. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKE. Royal Bank of Canada raised their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat, 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.