Coldstream Capital Management Inc. Acquires 7,814 Shares of ONEOK, Inc. (NYSE:OKE)

Coldstream Capital Management Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 24.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,947 shares of the utilities provider's stock after buying an additional 7,814 shares during the quarter. Coldstream Capital Management Inc.'s holdings in ONEOK were worth $3,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co acquired a new stake in ONEOK in the 3rd quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a "buy" rating and a $105.00 price target for the company. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Morgan Stanley raised ONEOK from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $101.00.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.02 during trading on Wednesday, hitting $104.36. 2,681,146 shares of the company were exchanged, compared to its average volume of 2,808,220. The business's 50 day moving average is $102.95 and its 200-day moving average is $91.43. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. The company has a market capitalization of $60.97 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (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 the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the business earned $0.99 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued 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 3.79%. ONEOK's payout ratio is currently 82.85%.

ONEOK 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.