Brown Brothers Harriman & Co. Purchases 603 Shares of ONEOK, Inc. (NYSE:OKE)

Brown Brothers Harriman & Co. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,401 shares of the utilities provider’s stock after purchasing an additional 603 shares during the period. Brown Brothers Harriman & Co.’s holdings in ONEOK were worth $583,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in ONEOK by 1.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 792,631 shares of the utilities provider’s stock valued at $63,546,000 after buying an additional 11,982 shares in the last quarter. Castleark Management LLC boosted its stake in shares of ONEOK by 15.7% in the 1st quarter. Castleark Management LLC now owns 17,220 shares of the utilities provider’s stock valued at $1,381,000 after purchasing an additional 2,340 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of ONEOK during the 1st quarter valued at approximately $218,000. Beacon Capital Management LLC increased its position in ONEOK by 56.9% during the 1st quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 232 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in ONEOK during the 1st quarter worth approximately $111,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OKE shares. 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 target price on the stock. Morgan Stanley upgraded 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. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Price Performance

OKE stock opened at $113.45 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $66.28 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 5.56 and a beta of 1.66. The company’s fifty day simple moving average is $99.60 and its 200 day simple moving average is $89.46. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by company insiders.

About ONEOK

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.