City State Bank Acquires 540 Shares of ONEOK, Inc. (NYSE:OKE)

City State Bank grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 108.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,040 shares of the utilities provider’s stock after buying an additional 540 shares during the period. City State Bank’s holdings in ONEOK were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC bought a new position in ONEOK in the 2nd quarter worth about $28,000. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter worth about $29,000. Access Investment Management LLC bought a new position in ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC boosted its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of a number of analyst reports. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays boosted 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. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Scotiabank began coverage on ONEOK in a research report on Friday. They issued a “sector outperform” rating and a $109.00 target price for the company. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Price Performance

NYSE OKE opened at $103.92 on Tuesday. The company has a 50-day moving average price of $105.80 and a 200-day moving average price of $95.11. The firm has a market capitalization of $60.71 billion, a P/E ratio of 21.74, a PEG ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the company posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

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.