Peregrine Asset Advisers Inc. Takes Position in ONEOK, Inc. (NYSE:OKE)

Peregrine Asset Advisers Inc. purchased a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,558 shares of the utilities provider’s stock, valued at approximately $4,368,000. ONEOK comprises approximately 1.7% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. QRG Capital Management Inc. raised its holdings in shares of ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the period. Johnson Investment Counsel Inc. grew its position in 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. Capital Wealth Planning LLC increased its stake in ONEOK by 4.3% in the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 131 shares during the period. Sheets Smith Wealth Management lifted its position in shares of ONEOK by 0.3% during the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 139 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in shares of ONEOK by 0.3% during the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after purchasing an additional 140 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on OKE. Citigroup raised their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays raised their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley upgraded 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 report on Monday. JPMorgan Chase & Co. raised their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, Royal Bank of Canada lifted their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus target price of $92.38.

ONEOK Price Performance

OKE opened at $93.68 on Tuesday. The firm has a market capitalization of $54.72 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The business’s 50-day moving average is $86.36 and its two-hundred day moving average is $82.00. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $93.88. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.23%. ONEOK’s payout ratio is 92.09%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

ONEOK Company 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.