FORA Capital LLC Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

FORA Capital LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,925 shares of the utilities provider’s stock, valued at approximately $1,725,000.

Several other large investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC increased its position in ONEOK by 37.7% during the third quarter. CreativeOne Wealth LLC now owns 21,041 shares of the utilities provider’s stock worth $1,917,000 after acquiring an additional 5,761 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $47,957,000. Townsquare Capital LLC increased its holdings in shares of 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 during the period. Principal Street Partners LLC raised its position 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 buying an additional 1,848 shares in the last quarter. Finally, Avestar Capital LLC bought a new stake in shares of ONEOK in the third quarter valued at approximately $216,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on OKE shares. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Down 0.8 %

Shares of NYSE:OKE opened at $112.59 on Thursday. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a fifty day moving average of $99.98 and a 200-day moving average of $89.62.

ONEOK (NYSE:OKE) last issued its earnings results 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.99 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling at ONEOK

In related 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 transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

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.