Financial Counselors Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,370 shares of the utilities provider’s stock, valued at approximately $298,000.
Other institutional investors have also added to or reduced their stakes in the company. Ropes Wealth Advisors LLC purchased a new stake in shares of ONEOK during the second quarter worth $103,000. Winslow Evans & Crocker Inc. grew its holdings in shares of ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,620 shares during the period. Mercer Capital Advisers Inc. grew its holdings in shares of ONEOK by 229.8% in the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 1,379 shares during the period. Smithfield Trust Co. grew its holdings in shares of ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,034 shares during the period. Finally, Enterprise Financial Services Corp grew its holdings in shares of ONEOK by 332.8% in the third quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,744 shares during the period. 71.02% of the stock is owned by institutional investors and hedge funds.
In related news, Director Brian L. Derksen bought 1,800 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company earned $0.43 EPS. equities research analysts anticipate that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were given a $0.745 dividend. The ex-dividend date was Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 5.75%. ONEOK’s payout ratio is currently 186.25%.
OKE has been the subject of a number of analyst reports. BidaskClub lowered shares of ONEOK from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Argus reissued a “buy” rating and issued a $59.00 price objective (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Jefferies Group reissued a “hold” rating and issued a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a report on Friday, September 1st. Barclays initiated coverage on shares of ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.07.
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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