Townsquare Capital LLC Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Townsquare Capital LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 6.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 107,342 shares of the utilities provider’s stock after acquiring an additional 6,767 shares during the period. Townsquare Capital LLC’s holdings in ONEOK were worth $9,782,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $112.59 on Thursday. The business’s 50 day moving average is $99.98 and its two-hundred day moving average is $89.62. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a market cap of $65.77 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 5.56 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.

ONEOK (NYSE:OKE) last announced its 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company 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 was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $100.38.

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.