CNB Bank Makes New Investment in ONEOK, Inc. (NYSE:OKE)

CNB Bank bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 997 shares of the utilities provider’s stock, valued at approximately $91,000.

Several other large investors also recently bought and sold shares of the stock. QRG Capital Management Inc. boosted its holdings in shares of ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of ONEOK by 1.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock valued at $839,000 after acquiring an additional 125 shares during the last quarter. Finally, Capital Wealth Planning LLC boosted its holdings in shares of ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $97.23 on Monday. The firm has a 50-day simple moving average of $91.79 and a 200-day simple moving average of $84.71. The stock has a market capitalization of $56.79 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.01.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the prior year, the business earned $1.04 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 86.27%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKE shares. Barclays increased their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Bank of America started coverage on shares of ONEOK in a report on Thursday. They set a “buy” rating and a $105.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

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.