Madrona Financial Services LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,450 shares of the utilities provider’s stock, valued at approximately $302,000. ONEOK accounts for approximately 0.3% of Madrona Financial Services LLC’s investment portfolio, making the stock its 28th largest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN purchased a new position in shares of ONEOK during the 2nd quarter worth about $103,000. Ropes Wealth Advisors LLC purchased a new position in shares of ONEOK during the 2nd quarter worth about $103,000. Smithfield Trust Co. boosted its stake in shares of ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 1,034 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in shares of ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,620 shares during the period. Finally, Mercer Capital Advisers Inc. boosted its stake in shares of ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,379 shares during the period. 71.02% of the stock is owned by hedge funds and other institutional investors.
In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of ONEOK stock in a transaction dated Monday, November 20th. The stock was acquired at an average price of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) opened at $52.41 on Friday. ONEOK, Inc. has a twelve month low of $47.14 and a twelve month high of $59.47. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market cap of $19,930.00, a PE ratio of 32.71, a P/E/G ratio of 3.36 and a beta of 1.26.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. equities analysts forecast that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a $0.745 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.69%. ONEOK’s dividend payout ratio is currently 186.25%.
A number of equities analysts recently commented on the stock. BMO Capital Markets set a $62.00 price target on shares of ONEOK and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price target on shares of ONEOK in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Tuesday, October 17th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Finally, Mizuho began coverage on shares of ONEOK in a report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. ONEOK presently has an average rating of “Hold” and an average price target of $59.07.
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ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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