Greenwood Capital Associates LLC Invests $1.62 Million in ONEOK, Inc. (NYSE:OKE)

Greenwood Capital Associates LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,749 shares of the utilities provider’s stock, valued at approximately $1,617,000.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $31,000. Manchester Capital Management LLC increased its stake in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK during the 3rd quarter valued at $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Wells Fargo & Company increased their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $96.92.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 2.4 %

Shares of ONEOK stock opened at $95.64 on Tuesday. The stock has a fifty day moving average price of $93.80 and a 200-day moving average price of $86.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $55.87 billion, a PE ratio of 20.01, a P/E/G ratio of 3.98 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43.

ONEOK (NYSE:OKE) last released its earnings results 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 net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.16 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

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.