Symphony Financial Ltd. Co. Purchases 1,786 Shares of ONEOK, Inc. (NYSE:OKE)

Symphony Financial Ltd. Co. lifted its position in ONEOK, Inc. (NYSE:OKE) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,011 shares of the utilities provider’s stock after acquiring an additional 1,786 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in ONEOK were worth $1,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in ONEOK by 13.1% in the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after purchasing an additional 864 shares in the last quarter. Ballentine Partners LLC raised its holdings in ONEOK by 8.2% in the first quarter. Ballentine Partners LLC now owns 4,224 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 319 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of ONEOK during the first quarter valued at about $3,195,000. Dynamic Advisor Solutions LLC increased its holdings in shares of ONEOK by 1.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock valued at $1,561,000 after acquiring an additional 350 shares in the last quarter. Finally, Sovereign Financial Group Inc. acquired a new position in shares of ONEOK during the first quarter valued at about $218,000. 69.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred 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 SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.6 %

ONEOK stock opened at $97.39 on Wednesday. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43. The firm has a market cap of $56.88 billion, a PE ratio of 21.22, a P/E/G ratio of 4.20 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock’s 50 day simple moving average is $92.25 and its two-hundred day simple moving average is $84.96.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 EPS. Analysts anticipate that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. ONEOK’s dividend payout ratio (DPR) is 86.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OKE shares. Barclays upped their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.77.

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.