Los Angeles Capital Management LLC Acquires 9,497 Shares of ONEOK, Inc. (NYSE:OKE)

Los Angeles Capital Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 34.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 37,258 shares of the utilities provider’s stock after buying an additional 9,497 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $3,395,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Arvest Investments Inc. bought a new stake in ONEOK in the third quarter valued at $1,869,000. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of ONEOK by 2.4% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,566 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 200 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of ONEOK by 3.2% during the third quarter. Crossmark Global Holdings Inc. now owns 24,806 shares of the utilities provider’s stock valued at $2,260,000 after buying an additional 772 shares during the period. Mayflower Financial Advisors LLC raised its stake in ONEOK by 23.8% in the third quarter. Mayflower Financial Advisors LLC now owns 8,313 shares of the utilities provider’s stock worth $758,000 after buying an additional 1,599 shares in the last quarter. Finally, Disciplined Investments LLC lifted its holdings in ONEOK by 11.5% in the third quarter. Disciplined Investments LLC now owns 22,327 shares of the utilities provider’s stock worth $2,035,000 after buying an additional 2,307 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

ONEOK Trading Down 1.1 %

NYSE:OKE opened at $107.81 on Wednesday. The company has a market cap of $62.98 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50 day simple moving average of $95.19 and a two-hundred day simple moving average of $86.90. ONEOK, Inc. has a 12 month low of $63.77 and a 12 month high of $109.21.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 EPS. Research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OKE shares. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Citigroup lifted their target price 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, Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

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.