Ashton Thomas Securities LLC Buys Shares of 1,262 ONEOK, Inc. (NYSE:OKE)

Ashton Thomas Securities LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,262 shares of the utilities provider’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also modified their holdings of OKE. Los Angeles Capital Management LLC grew its position in ONEOK by 34.2% in the third quarter. Los Angeles Capital Management LLC now owns 37,258 shares of the utilities provider’s stock valued at $3,395,000 after acquiring an additional 9,497 shares during the last quarter. Arvest Investments Inc. acquired a new stake in shares of ONEOK in the 3rd quarter valued at approximately $1,869,000. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of ONEOK by 2.4% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,566 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 200 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in ONEOK by 3.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 24,806 shares of the utilities provider’s stock worth $2,260,000 after purchasing an additional 772 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in ONEOK by 23.8% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,313 shares of the utilities provider’s stock valued at $758,000 after purchasing an additional 1,599 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

ONEOK Stock Performance

Shares of OKE opened at $107.81 on Wednesday. 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 firm’s fifty day simple moving average is $95.19 and its two-hundred day simple moving average is $86.90. ONEOK, Inc. has a 12 month low of $63.77 and a 12 month high of $109.21. The stock has a market capitalization of $62.98 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business earned $0.99 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. ONEOK’s payout ratio is presently 82.85%.

Analyst Ratings Changes

OKE has been the subject of several research analyst reports. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Scotiabank increased their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.92.

ONEOK Company 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.