2,370 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,370 shares of the utilities provider’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth approximately $25,000. Quest Partners LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co acquired a new position in ONEOK in the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the second quarter valued at approximately $31,000. Finally, American National Bank acquired a new position in ONEOK in the first quarter valued at approximately $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on OKE shares. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Mizuho upped their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

ONEOK Stock Up 0.7 %

ONEOK stock opened at $95.65 on Thursday. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.01. The stock’s fifty day simple moving average is $91.32 and its 200-day simple moving average is $84.44. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $55.83 billion, a P/E ratio of 22.24, a P/E/G ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.14%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity at ONEOK

In related 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 document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.