Hengehold Capital Management LLC Makes New $266,000 Investment in ONEOK, Inc. (NYSE:OKE)

Hengehold Capital Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,916 shares of the utilities provider’s stock, valued at approximately $266,000.

A number of other institutional investors have also made changes to their positions in the business. Rise Advisors LLC acquired a new position in ONEOK during the first quarter valued at approximately $25,000. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter worth approximately $29,000. Quest Partners LLC acquired a new stake in shares of ONEOK in the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter valued at $31,000. Finally, American National Bank acquired a new position in ONEOK during the first quarter worth $32,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday. They set a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company raised their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.8 %

NYSE OKE opened at $96.44 on Friday. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average of $91.54 and a 200-day moving average of $84.53.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company posted $1.04 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is currently 92.09%.

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.