Johnson Investment Counsel Inc. Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Johnson Investment Counsel Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,623 shares of the utilities provider’s stock after buying an additional 122 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $1,111,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OKE. Rise Advisors LLC purchased a new stake in ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK in the 1st quarter worth approximately $26,000. Quest Partners LLC acquired a new position in ONEOK in the 2nd quarter worth approximately $28,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the 2nd quarter valued at approximately $31,000. Finally, American National Bank purchased a new stake in shares of ONEOK in the 1st quarter valued at $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.0 %

OKE opened at $91.37 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $93.00. The company has a market cap of $53.37 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67. The company has a 50-day moving average price of $86.12 and a 200 day moving average price of $81.77.

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 the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $1.04 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Analyst Ratings Changes

Several equities research analysts have commented on OKE shares. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Finally, Citigroup increased 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average target price of $89.92.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

About ONEOK

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.