Csenge Advisory Group Buys New Holdings in ONEOK, Inc. (NYSE:OKE)

Csenge Advisory Group acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,694 shares of the utilities provider’s stock, valued at approximately $482,000.

A number of other hedge funds also recently made changes to their positions in the stock. Delta Asset Management LLC TN acquired a new stake in shares of ONEOK in the second quarter worth approximately $103,000. Ropes Wealth Advisors LLC acquired a new stake in shares of ONEOK in the second quarter worth approximately $103,000. Smithfield Trust Co. boosted its stake in shares of ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,034 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Mercer Capital Advisers Inc. boosted its stake in ONEOK by 229.8% during the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after buying an additional 1,379 shares during the last quarter. Institutional investors own 53.22% of the company’s stock.

Shares of ONEOK, Inc. (NYSE:OKE) traded down $0.59 during mid-day trading on Monday, hitting $52.40. The stock had a trading volume of 2,438,400 shares, compared to its average volume of 3,296,294. ONEOK, Inc. has a fifty-two week low of $46.82 and a fifty-two week high of $59.47. The stock has a market cap of $20,092.08, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 3.79 and a beta of 1.29. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business earned $0.43 earnings per share. analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 5.69%. The ex-dividend date is Friday, November 3rd. ONEOK’s payout ratio is currently 186.25%.

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A number of research firms have weighed in on OKE. BMO Capital Markets set a $62.00 target price on ONEOK and gave the company a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 17th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Finally, Mizuho assumed coverage on ONEOK in a report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. ONEOK currently has an average rating of “Hold” and a consensus target price of $59.07.

ONEOK Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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