Intact Investment Management Inc. Purchases 16,100 Shares of ONEOK, Inc. $OKE

Intact Investment Management Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 45.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,500 shares of the utilities provider’s stock after acquiring an additional 16,100 shares during the period. Intact Investment Management Inc.’s holdings in ONEOK were worth $3,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC raised its holdings in ONEOK by 3.1% in the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. grew its position in shares of ONEOK by 5.8% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 140 shares during the period. Focused Wealth Management Inc increased its stake in shares of ONEOK by 4.3% in the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 142 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in ONEOK by 4.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.6%

OKE opened at $77.54 on Tuesday. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 4.42 and a beta of 0.94. The firm has a 50 day moving average price of $73.29 and a 200-day moving average price of $73.42. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the previous year, the firm posted $1.18 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 75.74%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. UBS Group cut their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday. TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group began coverage on ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Finally, Stifel Nicolaus set a $94.00 target price on ONEOK in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.56.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Profile

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.