Summit Trail Advisors LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Summit Trail Advisors LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,640 shares of the utilities provider’s stock after acquiring an additional 1,637 shares during the period. Summit Trail Advisors LLC’s holdings in ONEOK were worth $787,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of ONEOK during the 2nd quarter valued at $28,000. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter worth about $29,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Trading Down 4.8 %

Shares of NYSE OKE opened at $111.46 on Tuesday. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a 50-day moving average of $99.23 and a 200 day moving average of $89.22. The stock has a market cap of $65.11 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 3.55%. ONEOK’s payout ratio is presently 82.85%.

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.