ONEOK, Inc. (NYSE:OKE) Shares Purchased by Waterloo Capital L.P.

Waterloo Capital L.P. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,989 shares of the utilities provider’s stock after acquiring an additional 513 shares during the period. Waterloo Capital L.P.’s holdings in ONEOK were worth $2,609,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares during the last quarter. Northern Trust Corp increased its stake in shares of ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after buying an additional 85,736 shares during the last quarter. Norges Bank acquired a new stake in ONEOK in the fourth quarter valued at $297,948,000. Kayne Anderson Capital Advisors LP boosted its stake in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Barclays upped their price objective on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a research report on Monday. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.38.

Insider Activity

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 value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 1.0 %

Shares of NYSE:OKE opened at $94.66 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $86.60 and its 200 day moving average price is $82.14. The company has a market cap of $55.29 billion, a PE ratio of 22.01, a P/E/G ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $94.95.

ONEOK (NYSE:OKE) last released its quarterly 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 company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.18%. ONEOK’s payout ratio is 92.09%.

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.