Edgestream Partners L.P. Acquires 19,632 Shares of ONEOK, Inc. (NYSE:OKE)

Edgestream Partners L.P. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 129.6% in the third quarter, HoldingsChannel reports. The fund owned 34,776 shares of the utilities provider’s stock after purchasing an additional 19,632 shares during the quarter. Edgestream Partners L.P.’s holdings in ONEOK were worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter worth $29,000. Quest Partners LLC bought a new position in ONEOK in the 2nd quarter worth $28,000. Ridgewood Investments LLC bought a new position in ONEOK in the 2nd quarter worth $31,000. Access Investment Management LLC bought a new position in ONEOK in the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter worth $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.9 %

Shares of NYSE OKE opened at $113.60 on Monday. The firm’s 50-day moving average price is $100.75 and its 200-day moving average price is $90.13. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $66.36 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $100.38.

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.