TT Capital Management LLC Acquires Shares of 9,450 ONEOK, Inc. $OKE

TT Capital Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,450 shares of the utilities provider’s stock, valued at approximately $690,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its stake in shares of ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares during the period. National Pension Service raised its stake in ONEOK by 2.9% in the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after acquiring an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in ONEOK by 34.1% during the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after purchasing an additional 22,282 shares during the last quarter. Meixler Investment Management Ltd. boosted its position in ONEOK by 134.0% during the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after purchasing an additional 17,714 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its stake in shares of ONEOK by 24.6% in the second quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock worth $6,687,000 after purchasing an additional 16,151 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKE. Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, November 6th. Barclays cut their price target on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.80.

ONEOK Stock Up 1.8%

Shares of NYSE:OKE opened at $86.09 on Friday. The firm has a fifty day moving average price of $75.76 and a two-hundred day moving average price of $73.42. The company has a market cap of $54.17 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 4.89 and a beta of 0.96. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a one year low of $64.02 and a one year high of $103.64.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $1.07 per share. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.0%. ONEOK’s dividend payout ratio (DPR) is presently 78.68%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.