Heronetta Management L.P. Has $14.42 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Heronetta Management L.P. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 158,252 shares of the utilities provider’s stock after buying an additional 1,200 shares during the quarter. ONEOK comprises approximately 9.9% of Heronetta Management L.P.’s holdings, making the stock its 3rd largest holding. Heronetta Management L.P.’s holdings in ONEOK were worth $14,422,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. M&G Plc purchased a new position in shares of ONEOK during the first quarter worth $77,634,000. Bahl & Gaynor Inc. lifted its position in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after purchasing an additional 501,216 shares during the period. Cetera Investment Advisers boosted its holdings in ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after purchasing an additional 484,403 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 392,644 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Up 1.9 %

Shares of NYSE OKE opened at $104.13 on Friday. 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 company has a 50-day moving average of $94.29 and a 200 day moving average of $86.31. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $104.50. The stock has a market cap of $60.83 billion, a PE ratio of 21.78, a P/E/G ratio of 4.08 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the firm posted $0.99 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

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 paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

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.