Healthcare of Ontario Pension Plan Trust Fund Buys New Position in ONEOK, Inc. (NYSE:OKE)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 526,247 shares of the utilities provider’s stock, valued at approximately $47,957,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of ONEOK as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of OKE. Townsquare Capital LLC boosted its position in ONEOK by 6.7% during the third quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock worth $9,782,000 after purchasing an additional 6,767 shares in the last quarter. Principal Street Partners LLC increased its holdings in shares of ONEOK by 41.3% in the third quarter. Principal Street Partners LLC now owns 6,323 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 1,848 shares during the last quarter. Avestar Capital LLC acquired a new stake in shares of ONEOK in the third quarter valued at approximately $216,000. Brooklyn Investment Group increased its stake in ONEOK by 3.4% during the third quarter. Brooklyn Investment Group now owns 4,346 shares of the utilities provider’s stock worth $396,000 after acquiring an additional 143 shares during the last quarter. Finally, FMR LLC increased its stake in ONEOK by 11.7% during the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after acquiring an additional 122,362 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Stock Performance

Shares of OKE opened at $112.59 on Thursday. The firm has a 50-day moving average of $99.98 and a 200-day moving average of $89.62. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $65.77 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07.

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

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insiders Place Their Bets

In related 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 transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.