Hamilton Capital LLC Takes $281,000 Position in ONEOK, Inc. (NYSE:OKE)

Hamilton Capital LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,905 shares of the utilities provider’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Pension Service raised its position in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares during the period. Caxton Associates LP acquired a new position in ONEOK in the 2nd quarter valued at about $1,225,000. Point72 Europe London LLP purchased a new stake in ONEOK during the 2nd quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV lifted its position in ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.0 %

Shares of OKE stock opened at $109.00 on Monday. The company has a market capitalization of $63.68 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 5.49 and a beta of 1.69. 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 has a 50-day moving average price of $102.43 and a 200 day moving average price of $91.09. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) 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 analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $0.99 EPS. Research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley raised 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. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company raised their price target on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.00.

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.