ONEOK, Inc. (NYSE:OKE) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,417 shares of the utilities provider’s stock after acquiring an additional 4,032 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in ONEOK were worth $3,556,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Astoria Portfolio Advisors LLC. boosted its stake in ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares during the period. McAdam LLC grew its holdings in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its position in ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after acquiring an additional 100 shares during the period. Mutual Advisors LLC raised its stake in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 104 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $102.42 on Wednesday. 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 company has a market cap of $63.94 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm’s 50 day simple moving average is $98.84 and its 200-day simple moving average is $100.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays dropped their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

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.