Truvestments Capital LLC Invests $230,000 in ONEOK, Inc. (NYSE:OKE)

Truvestments Capital LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,527 shares of the utilities provider’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently made changes to their positions in the business. HM Payson & Co. lifted its stake in shares of 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. Claro Advisors LLC raised its stake in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 115 shares during the period. Haverford Trust Co lifted its holdings in shares of ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

ONEOK Trading Down 4.8 %

NYSE:OKE opened at $111.46 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a 50-day simple moving average of $99.23 and a 200-day simple moving average of $89.22. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The firm has a market cap of $65.11 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted its 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). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced 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 3.55%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several brokerages have issued reports on OKE. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average 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.