Wilmington Savings Fund Society FSB Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Wilmington Savings Fund Society FSB increased its stake in ONEOK, Inc. (NYSE:OKE) by 270.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,531 shares of the utilities provider’s stock after purchasing an additional 10,609 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in ONEOK were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co purchased a new position in ONEOK during the third quarter valued at approximately $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter valued at approximately $31,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OKE shares. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Morgan Stanley upgraded 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. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Stock Performance

NYSE OKE opened at $104.03 on Friday. The firm has a market cap of $60.77 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 5.26 and a beta of 1.69. The company has a 50-day simple moving average of $103.54 and a two-hundred day simple moving average of $91.85. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (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 company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.81%. ONEOK’s dividend payout ratio is currently 82.85%.

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.