Massmutual Trust Co. FSB ADV Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Massmutual Trust Co. FSB ADV lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,830 shares of the utilities provider’s stock after acquiring an additional 399 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in ONEOK were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of OKE. Rise Advisors LLC purchased a new stake in shares of ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK during the first quarter worth $26,000. Quest Partners LLC acquired a new position in shares of ONEOK during the second quarter worth $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK during the second quarter worth $31,000. Finally, American National Bank acquired a new position in shares of ONEOK during the first quarter worth $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on OKE. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight 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 has a consensus rating of “Moderate Buy” and an average price target of $92.38.

Insider Buying and Selling at ONEOK

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

ONEOK Trading Up 0.5 %

NYSE OKE opened at $95.23 on Friday. The stock has a market capitalization of $55.58 billion, a P/E ratio of 22.15, a P/E/G ratio of 4.46 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $60.79 and a 52-week high of $96.05. The firm has a 50-day moving average price of $89.16 and a 200 day moving average price of $83.52. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the company posted $1.04 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

About ONEOK

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.