Advisor Group Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 55.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,651 shares of the utilities provider’s stock after purchasing an additional 49,855 shares during the quarter. Advisor Group Inc.’s holdings in ONEOK were worth $7,739,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN bought a new stake in shares of ONEOK in the 2nd quarter worth $103,000. Ropes Wealth Advisors LLC bought a new stake in shares of ONEOK in the 2nd quarter worth $103,000. Smithfield Trust Co. grew its stake in shares of ONEOK by 107.7% in the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,034 shares in the last quarter. Winslow Evans & Crocker Inc. grew its stake in shares of ONEOK by 462.9% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Mercer Capital Advisers Inc. grew its stake in shares of ONEOK by 229.8% in the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 1,379 shares in the last quarter. Institutional investors and hedge funds own 53.22% of the company’s stock.
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Several analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $55.00 target price on shares of ONEOK in a research note on Friday, November 3rd. UBS AG upped their target price on shares of ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Mizuho assumed coverage on shares of ONEOK in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. ONEOK currently has an average rating of “Hold” and a consensus price target of $59.07.
Shares of ONEOK, Inc. (OKE) traded down $0.19 during trading hours on Tuesday, hitting $52.21. 2,336,600 shares of the company were exchanged, compared to its average volume of 3,291,912. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. The stock has a market cap of $20,092.08, a P/E ratio of 32.75, a P/E/G ratio of 3.79 and a beta of 1.29. ONEOK, Inc. has a 52 week low of $46.82 and a 52 week high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period last year, the firm posted $0.43 earnings per share. analysts predict that ONEOK, Inc. will post 1.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Friday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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