Paradigm Capital Management LLC NV Takes Position in ONEOK, Inc. (NYSE:OKE)

Paradigm Capital Management LLC NV acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,016 shares of the utilities provider’s stock, valued at approximately $275,000.

Several other large investors also recently bought and sold shares of the business. FSA Wealth Management LLC bought a new stake in ONEOK during the third quarter valued at approximately $57,000. Erste Asset Management GmbH purchased a new position in shares of ONEOK during the 3rd quarter worth $9,333,000. Tradition Wealth Management LLC grew its position in shares of ONEOK by 3.4% during the 3rd quarter. Tradition Wealth Management LLC now owns 6,718 shares of the utilities provider’s stock valued at $612,000 after acquiring an additional 221 shares during the period. Edgestream Partners L.P. increased its stake in shares of ONEOK by 129.6% in the 3rd quarter. Edgestream Partners L.P. now owns 34,776 shares of the utilities provider’s stock worth $3,169,000 after purchasing an additional 19,632 shares in the last quarter. Finally, L.M. Kohn & Company bought a new position in ONEOK in the 3rd quarter worth $215,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.9 %

Shares of NYSE OKE opened at $113.60 on Friday. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. 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 business’s 50 day moving average is $100.75 and its two-hundred day moving average is $90.07. The stock has a market capitalization of $66.36 billion, a P/E ratio of 23.77, a PEG ratio of 5.75 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted 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). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the firm earned $0.99 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKE shares. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

Insider Activity at ONEOK

In related 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.