Empowered Funds LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Empowered Funds LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,884 shares of the utilities provider’s stock after acquiring an additional 797 shares during the quarter. Empowered Funds LLC’s holdings in ONEOK were worth $901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Empirical Finance LLC grew its position in shares of ONEOK by 8.2% during the third quarter. Empirical Finance LLC now owns 10,903 shares of the utilities provider’s stock worth $994,000 after buying an additional 830 shares in the last quarter. CIBC Asset Management Inc grew its holdings in ONEOK by 7.2% during the 3rd quarter. CIBC Asset Management Inc now owns 100,069 shares of the utilities provider’s stock worth $9,119,000 after acquiring an additional 6,746 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in ONEOK by 5.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after acquiring an additional 455 shares in the last quarter. Lifeworks Advisors LLC acquired a new stake in shares of ONEOK in the 3rd quarter valued at about $353,000. Finally, Ferguson Wellman Capital Management Inc. raised its stake in shares of ONEOK by 3.1% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,356 shares of the utilities provider’s stock valued at $853,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were 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 is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 0.2 %

NYSE:OKE opened at $117.04 on Friday. The stock has a market cap of $68.37 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 5.64 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. The business has a fifty day moving average of $98.87 and a 200-day moving average of $88.86.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.38%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.