ONEOK, Inc. (NYSE:OKE) Shares Acquired by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. grew its stake in ONEOK, Inc. (NYSE:OKE) by 14.6% in the third quarter, Holdings Channel reports. The fund owned 14,011 shares of the utilities provider’s stock after purchasing an additional 1,786 shares during the period. Symphony Financial Ltd. Co.’s holdings in ONEOK were worth $1,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Matrix Trust Co acquired a new stake in shares of ONEOK in the 3rd quarter worth $29,000. Quest Partners LLC purchased a new position in ONEOK during the second quarter worth about $28,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK in the 2nd quarter valued at approximately $31,000. Manchester Capital Management LLC lifted its holdings in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of ONEOK during the 3rd quarter worth approximately $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’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 filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Barclays boosted their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, Mizuho boosted their price target 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Stock Up 0.6 %

Shares of NYSE OKE opened at $97.39 on Wednesday. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. The firm’s 50 day moving average price is $92.25 and its 200 day moving average price is $84.96. The firm has a market cap of $56.88 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

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 company 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 last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 86.27%.

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.