Janney Montgomery Scott LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 10.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 68,309 shares of the utilities provider’s stock after buying an additional 6,209 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ONEOK were worth $4,700,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama increased its stake in ONEOK by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 822 shares during the period. Dixon Hubard Feinour & Brown Inc. VA increased its stake in ONEOK by 4.3% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 31,948 shares of the utilities provider’s stock valued at $2,231,000 after buying an additional 1,331 shares during the period. Wetherby Asset Management Inc. increased its stake in ONEOK by 5.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 14,063 shares of the utilities provider’s stock valued at $982,000 after buying an additional 672 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in ONEOK by 17.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 480,799 shares of the utilities provider’s stock valued at $33,579,000 after buying an additional 73,086 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in shares of ONEOK during the 1st quarter worth $219,000. 74.39% of the stock is currently owned by institutional investors.
ONEOK stock opened at $68.58 on Wednesday. ONEOK, Inc. has a 52 week low of $50.26 and a 52 week high of $72.38. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The stock has a 50-day simple moving average of $69.27. The stock has a market cap of $28.52 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.94 and a beta of 1.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be given a $0.89 dividend. The ex-dividend date is Monday, August 5th. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 5.19%. ONEOK’s payout ratio is currently 128.06%.
Several equities research analysts have commented on OKE shares. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Mitsubishi UFJ Financial Group boosted their target price on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James lowered shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Monday. Finally, Argus boosted their target price on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research report on Tuesday, August 6th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.37.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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