Prospera Private Wealth LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

Prospera Private Wealth LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 161.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,488 shares of the utilities provider's stock after purchasing an additional 5,862 shares during the period. Prospera Private Wealth LLC's holdings in ONEOK were worth $865,000 at the end of the most recent quarter.

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

ONEOK Stock Down 0.1 %

NYSE OKE traded down $0.09 on Wednesday, hitting $113.02. 835,323 shares of the stock were exchanged, compared to its average volume of 2,763,720. The company has a market cap of $66.02 billion, a PE ratio of 23.66, a PEG ratio of 5.48 and a beta of 1.66. The company has a 50-day moving average price of $97.38 and a 200-day moving average price of $88.22. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $114.33. 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 posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.50%. ONEOK's dividend payout ratio is currently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of 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 report on Monday, September 16th. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 16th. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

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.