First Financial Bankshares Inc Takes Position in ONEOK, Inc. (NYSE:OKE)

First Financial Bankshares Inc bought a new position in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,198 shares of the utilities provider’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the second quarter worth $31,000. Manchester Capital Management LLC grew its holdings in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in ONEOK during the third quarter valued at $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on OKE shares. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Performance

OKE opened at $96.02 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market cap of $56.08 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. The stock has a 50-day moving average of $93.01 and a 200-day moving average of $85.44. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.12%. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

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.