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

TT Capital Management LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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. Winnow Wealth LLC acquired a new stake in ONEOK during the third quarter worth approximately $28,000. City Holding Co. bought a new position in shares of ONEOK during the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $29,000. Financial Consulate Inc. bought a new stake in shares of ONEOK in the 3rd quarter valued at $29,000. Finally, Access Investment Management LLC bought a new stake in shares of ONEOK in the 2nd quarter valued at $33,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKE. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. UBS Group reduced their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Wells Fargo & Company dropped their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.80.

ONEOK Trading Up 1.8%

OKE opened at $86.09 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The firm has a market capitalization of $54.17 billion, a PE ratio of 15.82, a P/E/G 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. The company’s 50-day moving average is $75.76 and its 200 day moving average is $73.42.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is currently 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.