8,521 Shares in ONEOK, Inc. $OKE Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 8,521 shares of the utilities provider’s stock, valued at approximately $727,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Pin Oak Investment Advisors Inc. purchased a new stake in shares of ONEOK during the 2nd quarter worth about $28,000. Transamerica Financial Advisors LLC increased its stake in shares of ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 149 shares in the last quarter. Wilkerson Advisory Group LLC increased its stake in shares of ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 133 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in ONEOK by 46.0% in the 1st quarter. Meeder Asset Management Inc. now owns 400 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 126 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in ONEOK in the 2nd quarter worth about $39,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.0%

OKE opened at $85.16 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.66. The company’s 50 day simple moving average is $92.38 and its two-hundred day simple moving average is $88.95. ONEOK, Inc. has a 1-year low of $66.93 and a 1-year high of $99.85. The firm has a market capitalization of $53.69 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.55 and a beta of 0.77.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.63. The business had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $10.54 billion. ONEOK had a return on equity of 16.36% and a net margin of 9.42%. During the same period in the previous year, the firm posted $1.49 EPS. Analysts expect that ONEOK, Inc. will post 6.25 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, November 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK’s dividend payout ratio (DPR) is presently 66.46%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Jefferies Financial Group set a $97.00 price objective on ONEOK in a report on Thursday, October 29th. JPMorgan Chase & Co. cut their price objective on ONEOK from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Stifel Nicolaus set a $100.00 target price on ONEOK in a research note on Friday, October 9th. Wells Fargo & Company increased their target price on ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Finally, Freedom Broker increased their target price on ONEOK from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $99.25.

About ONEOK

ONEOK, Inc is a U.S. energy midstream company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs). Its services connect energy producers with processors, refineries, petrochemical facilities and other customers.

The company operates natural gas gathering and processing systems, NGL pipelines and fractionation facilities, as well as crude oil and refined products transportation assets. Its operations span regions including the Permian Basin, the Mid-Continent, the Rocky Mountain area and the Gulf Coast.

ONEOK traces its roots to Oklahoma Natural Gas Company, founded in 1906.