Hilltop Holdings Inc. Purchases 6,584 Shares of ONEOK, Inc. (NYSE:OKE)

Hilltop Holdings Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 36.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,538 shares of the utilities provider’s stock after acquiring an additional 6,584 shares during the quarter. Hilltop Holdings Inc.’s holdings in ONEOK were worth $2,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. National Pension Service boosted its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. lifted its stake in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the last quarter. Caxton Associates LP purchased a new position in ONEOK during the 2nd quarter valued at $1,225,000. Point72 Europe London LLP bought a new position in ONEOK in the 2nd quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

OKE opened at $110.43 on Tuesday. The firm has a market capitalization of $64.51 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50-day moving average is $100.75 and its two-hundred day moving average is $90.13. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the firm earned $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Analysts Set New Price Targets

A number of research firms have recently commented on OKE. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.