ONEOK, Inc. (NYSE:OKE) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 90.6% during the third quarter, Holdings Channel reports. The fund owned 30,822 shares of the utilities provider’s stock after purchasing an additional 14,647 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ONEOK were worth $2,809,000 as of its most recent filing with the Securities & Exchange Commission.

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

ONEOK Stock Up 0.3 %

OKE stock opened at $117.05 on Monday. The company’s 50 day simple moving average is $98.87 and its 200-day simple moving average is $89.00. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. 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 firm has a market capitalization of $68.38 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last issued its 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 business had revenue of $5.02 billion during 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 business earned $0.99 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKE. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Barclays lifted their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.