ONEOK, Inc. (NYSE:OKE) Holdings Raised by Perkins Coie Trust Co

Perkins Coie Trust Co boosted its stake in ONEOK, Inc. (NYSE:OKE) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the utilities provider’s stock after buying an additional 500 shares during the quarter. Perkins Coie Trust Co’s holdings in ONEOK were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Rise Advisors LLC acquired a new position in ONEOK in the 1st quarter valued at $25,000. Quest Partners LLC bought a new stake in ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC bought a new stake in ONEOK in the 2nd quarter valued at $31,000. American National Bank bought a new stake in ONEOK in the 1st quarter valued at $32,000. Finally, Manchester Capital Management LLC boosted its holdings in ONEOK by 66.4% in 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 during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Barclays lifted their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 is accessible through this link. 0.20% of the stock is currently owned by insiders.

ONEOK Trading Down 0.2 %

NYSE OKE traded down $0.21 during trading on Wednesday, reaching $93.39. 98,714 shares of the stock traded hands, compared to its average volume of 2,751,087. The firm has a market cap of $54.51 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 4.62 and a beta of 1.67. The stock’s 50-day moving average price is $89.63 and its 200 day moving average price is $83.80. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.