Raymond James Trust N.A. Has $2.30 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Raymond James Trust N.A. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,234 shares of the utilities provider’s stock after buying an additional 147 shares during the quarter. Raymond James Trust N.A.’s holdings in ONEOK were worth $2,300,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Matrix Trust Co acquired a new stake in ONEOK during the third quarter worth about $29,000. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $31,000. Access Investment Management LLC bought a new position in ONEOK in the third quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new stake in ONEOK during the third quarter worth $44,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of analyst reports. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company raised their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.3 %

Shares of NYSE:OKE opened at $117.05 on Friday. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The firm has a market cap of $68.38 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.82 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $98.87 and its two-hundred day moving average price is $88.93.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business earned $0.99 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.38%. ONEOK’s dividend payout ratio is currently 82.85%.

ONEOK 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.