Lifeworks Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Lifeworks Advisors LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,870 shares of the utilities provider’s stock, valued at approximately $353,000.

Several other hedge funds have also recently bought and sold shares of OKE. Envestnet Portfolio Solutions Inc. raised its stake in ONEOK by 21.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 844 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of ONEOK by 3.8% during the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 198 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of ONEOK during the first quarter worth $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of ONEOK by 28.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock worth $5,059,000 after purchasing an additional 14,058 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of ONEOK by 2.7% during the first quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock worth $1,216,000 after purchasing an additional 396 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on OKE. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Price Performance

Shares of OKE opened at $107.88 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $109.21. The stock has a market cap of $63.02 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 5.40 and a beta of 1.66. The stock’s 50-day moving average price is $95.84 and its two-hundred day moving average price is $87.24.

ONEOK (NYSE:OKE) last issued 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

About ONEOK

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.