Alternative Investment Advisors LLC. Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Alternative Investment Advisors LLC. raised its position in ONEOK, Inc. (NYSE:OKE) by 1.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,096 shares of the utilities provider’s stock after purchasing an additional 136 shares during the period. ONEOK accounts for approximately 0.6% of Alternative Investment Advisors LLC.’s portfolio, making the stock its 26th biggest holding. Alternative Investment Advisors LLC.’s holdings in ONEOK were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Quest Partners LLC acquired a new stake in shares of ONEOK in the second quarter valued at about $28,000. Matrix Trust Co acquired a new stake in ONEOK in the 3rd quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in ONEOK in the 2nd quarter worth approximately $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank lifted their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Stock Performance

NYSE:OKE traded down $0.70 during midday trading on Friday, reaching $103.77. The stock had a trading volume of 250,451 shares, compared to its average volume of 2,794,344. The stock has a market cap of $60.62 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.26 and a beta of 1.69. 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. The firm has a fifty day simple moving average of $103.37 and a two-hundred day simple moving average of $91.61.

ONEOK (NYSE:OKE) last issued its quarterly 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 firm earned $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.82%. ONEOK’s dividend payout ratio is presently 82.85%.

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.