Hanlon Investment Management Inc. Takes $409,000 Position in ONEOK, Inc. (NYSE:OKE)

Hanlon Investment Management Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,487 shares of the utilities provider’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HM Payson & Co. raised its stake in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. QRG Capital Management Inc. raised its position 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 valued at $454,000 after buying an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares during the last quarter. Brighton Jones LLC grew its stake in ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after acquiring an additional 122 shares during the period. Finally, Ferguson Wellman Capital Management Inc. grew its stake in ONEOK by 1.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho upped their price objective 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 raised their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

ONEOK Trading Up 2.4 %

Shares of OKE opened at $95.64 on Tuesday. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43. The stock’s 50-day moving average is $93.80 and its two-hundred day moving average is $86.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $55.87 billion, a PE ratio of 20.01, a P/E/G ratio of 3.98 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 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 analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm posted $0.99 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.16 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.14%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the 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. Company insiders own 0.20% of the company’s stock.

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.