Bangor Savings Bank Makes New $51,000 Investment in ONEOK, Inc. (NYSE:OKE)

Bangor Savings Bank purchased a new position in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 561 shares of the utilities provider’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKE. Evercore Wealth Management LLC acquired a new stake in shares of ONEOK in the fourth quarter worth about $221,000. Elo Mutual Pension Insurance Co lifted its position in shares of ONEOK by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 50,853 shares of the utilities provider’s stock worth $3,571,000 after buying an additional 2,120 shares during the last quarter. Rench Wealth Management Inc. lifted its position in shares of ONEOK by 15.3% during the 4th quarter. Rench Wealth Management Inc. now owns 4,201 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 559 shares during the last quarter. Tortoise Index Solutions LLC lifted its position in shares of ONEOK by 5.0% during the 4th quarter. Tortoise Index Solutions LLC now owns 578,458 shares of the utilities provider’s stock worth $40,619,000 after purchasing an additional 27,753 shares during the last quarter. Finally, Pinnacle Holdings LLC lifted its position in shares of ONEOK by 5.0% during the 4th quarter. Pinnacle Holdings LLC now owns 61,082 shares of the utilities provider’s stock worth $4,289,000 after purchasing an additional 2,892 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Stock Down 1.3 %

NYSE OKE opened at $93.57 on Wednesday. The firm has a market cap of $54.61 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.62 and a beta of 1.67. ONEOK, Inc. has a one year low of $63.33 and a one year high of $96.05. The stock’s 50 day simple moving average is $89.41 and its 200 day simple moving average is $83.69. 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 released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the company earned $1.04 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal 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 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 yield of 4.23%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Scotiabank boosted their price objective on 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 raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Barclays upped 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. Finally, JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.