Hodges Capital Management Inc. Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Hodges Capital Management Inc. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 0.4% during the 2nd quarter, Holdings Channel reports. The firm owned 144,930 shares of the utilities provider’s stock after buying an additional 589 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $11,819,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OKE. Rise Advisors LLC bought a new stake in shares of ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK in the 1st quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the 2nd quarter worth about $31,000. American National Bank bought a new stake in shares of ONEOK in the 1st quarter worth about $32,000. Finally, Security National Bank bought a new stake in shares of ONEOK in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Finally, Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.92.

ONEOK Trading Up 0.3 %

OKE stock traded up $0.27 during mid-day trading on Wednesday, reaching $92.51. The company had a trading volume of 201,265 shares, compared to its average volume of 2,747,997. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market capitalization of $53.99 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 4.61 and a beta of 1.65. The firm has a 50 day moving average of $84.62 and a 200 day moving average of $80.85. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $93.00.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the prior year, the firm earned $1.04 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.05 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.28%. ONEOK’s payout ratio is presently 92.09%.

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.