Hartline Investment Corp Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Hartline Investment Corp purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,261 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other large investors also recently modified their holdings of the stock. Matrix Trust Co bought a new position in ONEOK during the third quarter worth $29,000. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter worth about $28,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC bought a new stake in ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. acquired a new position in ONEOK during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.92.

ONEOK Stock Down 1.1 %

Shares of NYSE:OKE opened at $107.81 on Wednesday. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $109.21. The company has a market capitalization of $62.98 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 5.44 and a beta of 1.66. The business has a fifty day moving average price of $95.51 and a two-hundred day moving average price of $87.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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 company had revenue of $5.02 billion for 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 quarter in the previous year, the company posted $0.99 EPS. 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 will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

ONEOK Company 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.