Ballentine Partners LLC Boosts Position in ONEOK, Inc. (OKE)

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Ballentine Partners LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 96.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,444 shares of the utilities provider’s stock after buying an additional 14,473 shares during the quarter. Ballentine Partners LLC’s holdings in ONEOK were worth $1,997,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BerganKDV Wealth Management LLC acquired a new position in ONEOK during the 2nd quarter worth approximately $117,000. TRUE Private Wealth Advisors acquired a new position in ONEOK during the 3rd quarter worth approximately $140,000. Rehmann Capital Advisory Group raised its stake in ONEOK by 205.6% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after buying an additional 1,643 shares during the period. Palo Capital Inc. acquired a new position in ONEOK during the 3rd quarter worth approximately $175,000. Finally, Cribstone Capital Management LLC raised its stake in ONEOK by 40.8% during the 2nd quarter. Cribstone Capital Management LLC now owns 2,535 shares of the utilities provider’s stock worth $177,000 after buying an additional 735 shares during the period. 73.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of OKE traded down $0.94 on Tuesday, reaching $62.29. 123,554 shares of the company’s stock traded hands, compared to its average volume of 2,237,408. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.44 and a beta of 0.98. ONEOK, Inc. has a 52-week low of $49.65 and a 52-week high of $71.99.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.20 billion. ONEOK had a return on equity of 14.70% and a net margin of 6.07%. As a group, equities research analysts predict that ONEOK, Inc. will post 2.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be given a dividend of $0.855 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.49%. This is an increase from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, November 2nd. ONEOK’s dividend payout ratio (DPR) is presently 187.50%.

OKE has been the topic of a number of research reports. ValuEngine downgraded ONEOK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Jefferies Financial Group raised ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Tuesday, October 16th. Credit Suisse Group began coverage on ONEOK in a research note on Thursday, October 11th. They issued a “neutral” rating and a $74.00 price objective for the company. Wells Fargo & Co lowered their price objective on ONEOK from $77.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, September 13th. Finally, Royal Bank of Canada increased their price objective on ONEOK from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ONEOK presently has an average rating of “Buy” and an average target price of $69.88.

In other ONEOK news, Director Brian L. Derksen purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was bought at an average cost of $67.60 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now owns 5,100 shares of the company’s stock, valued at approximately $344,760. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

About ONEOK

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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