StoneRidge PMG Advisors LLC Purchases 8,521 Shares of ONEOK, Inc. $OKE

StoneRidge PMG Advisors LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,521 shares of the utilities provider’s stock, valued at approximately $727,000.

Several other hedge funds have also recently modified their holdings of the business. GTS Securities LLC raised its stake in ONEOK by 4.3% in the second quarter. GTS Securities LLC now owns 2,573 shares of the utilities provider’s stock worth $224,000 after buying an additional 105 shares in the last quarter. Meridian Wealth Management LLC lifted its position in shares of ONEOK by 1.8% during the second quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock valued at $574,000 after buying an additional 115 shares during the last quarter. Clearstead Trust LLC boosted its holdings in shares of ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after buying an additional 117 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of ONEOK by 0.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock valued at $2,374,000 after buying an additional 122 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its position in shares of ONEOK by 2.1% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock worth $548,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.0%

OKE stock opened at $85.16 on Monday. The firm has a 50 day moving average of $92.38 and a 200 day moving average of $88.95. The stock has a market capitalization of $53.69 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.55 and a beta of 0.77. The company has a quick ratio of 0.66, a current ratio of 0.84 and a debt-to-equity ratio of 0.83. ONEOK, Inc. has a 52 week low of $66.93 and a 52 week high of $99.85.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.63. ONEOK had a net margin of 9.42% and a return on equity of 16.36%. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $10.54 billion. During the same quarter in the previous year, the firm earned $1.49 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 6.25 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, November 2nd. ONEOK’s dividend payout ratio is 66.46%.

Analyst Ratings Changes

OKE has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $97.00 price target on ONEOK in a research report on Thursday, October 29th. Wells Fargo & Company increased their price objective on ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Capital One Financial assumed coverage on ONEOK in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on ONEOK from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, UBS Group set a $93.00 target price on ONEOK in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $99.25.

ONEOK Company Profile

ONEOK, Inc is a U.S. energy midstream company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs). Its services connect energy producers with processors, refineries, petrochemical facilities and other customers.

The company operates natural gas gathering and processing systems, NGL pipelines and fractionation facilities, as well as crude oil and refined products transportation assets. Its operations span regions including the Permian Basin, the Mid-Continent, the Rocky Mountain area and the Gulf Coast.

ONEOK traces its roots to Oklahoma Natural Gas Company, founded in 1906.