Adams Natural Resources Fund Inc. Purchases 49,900 Shares of ONEOK, Inc. (NYSE:OKE)

Adams Natural Resources Fund Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 36.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,800 shares of the utilities provider's stock after buying an additional 49,900 shares during the period. ONEOK accounts for about 2.5% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 9th largest holding. Adams Natural Resources Fund Inc.'s holdings in ONEOK were worth $17,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OKE. Quest Partners LLC acquired a new position in ONEOK during the second quarter worth about $28,000. Matrix Trust Co acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK in the second quarter valued at approximately $31,000. Manchester Capital Management LLC increased its holdings in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 0.8 %

ONEOK stock traded up $0.74 during mid-day trading on Wednesday, reaching $96.29. 2,067,548 shares of the company's stock were exchanged, compared to its average volume of 2,722,190. 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 twelve month low of $63.33 and a twelve month high of $98.43. The company has a market cap of $56.24 billion, a P/E ratio of 21.19, a P/E/G ratio of 4.17 and a beta of 1.67. The company has a fifty day moving average of $93.18 and a 200-day moving average of $85.56.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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). ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK's dividend payout ratio is presently 86.27%.

Analyst Ratings Changes

Several research analysts have recently commented on OKE shares. Wells Fargo & Company lifted their price target on ONEOK from $91.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Monday, September 16th. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday, July 26th. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on 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 SEC, which is available through this link. Corporate insiders own 0.20% of the company's stock.

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.