Sagefield Capital LP Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Sagefield Capital LP purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 47,353 shares of the utilities provider’s stock, valued at approximately $3,862,000.

Other large investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its position in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Northern Trust Corp boosted its holdings in ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after buying an additional 378,509 shares in the last quarter. Finally, Energy Income Partners LLC lifted its position in shares of ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after buying an additional 319,487 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $95.28 on Tuesday. The firm has a market capitalization of $55.65 billion, a PE ratio of 22.16, a PEG ratio of 4.64 and a beta of 1.67. 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, Inc. has a 1-year low of $60.58 and a 1-year high of $95.38. The business’s 50 day moving average is $87.45 and its 200-day moving average is $82.62.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for 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 company earned $1.04 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.16%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKE. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays increased their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.38.

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.