Helen Stephens Group LLC Purchases Shares of 2,340 ONEOK, Inc. (NYSE:OKE)

Helen Stephens Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,340 shares of the utilities provider’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. Energy Income Partners LLC boosted its stake in shares of ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after acquiring an additional 319,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OKE shares. Royal Bank of Canada raised their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank increased their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company increased their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.38.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.57 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $96.05. The business has a fifty day simple moving average of $89.41 and a 200 day simple moving average of $83.69. The firm has a market cap of $54.61 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 4.62 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the company earned $1.04 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

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.