Crescent Grove Advisors LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,377 shares of the utilities provider’s stock, valued at approximately $243,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of ONEOK by 17.3% in the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after buying an additional 4,002,795 shares during the last quarter. BlackRock Inc. boosted its stake in shares of ONEOK by 28.4% in the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares during the last quarter. State Street Corp boosted its stake in shares of ONEOK by 53.7% in the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after buying an additional 6,086,061 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of ONEOK by 6.1% in the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of ONEOK by 25.1% in the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock worth $356,012,000 after buying an additional 1,369,438 shares during the last quarter. Hedge funds and other institutional investors own 53.22% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) traded down $0.59 during trading on Monday, hitting $52.40. The company’s stock had a trading volume of 2,438,400 shares, compared to its average volume of 3,296,294. ONEOK, Inc. has a fifty-two week low of $46.82 and a fifty-two week high of $59.47. The firm has a market capitalization of $20,092.08, a PE ratio of 32.75, a P/E/G ratio of 3.79 and a beta of 1.29. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The firm had revenue of $2.91 billion for 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 analysts forecast that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.69%. ONEOK’s payout ratio is currently 186.25%.
A number of analysts have recently commented on OKE shares. Jefferies Group LLC restated a “hold” rating and issued a $52.00 target price (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. UBS AG upped their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Barclays PLC started coverage on ONEOK in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $59.07.
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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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