Commonwealth Equity Services Inc increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 88.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,956 shares of the utilities provider’s stock after purchasing an additional 39,504 shares during the quarter. Commonwealth Equity Services Inc’s holdings in ONEOK were worth $4,652,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in OKE. FMR LLC increased its position in ONEOK by 11.3% in the 1st quarter. FMR LLC now owns 116,387 shares of the utilities provider’s stock valued at $6,452,000 after acquiring an additional 11,822 shares during the period. Tudor Investment Corp ET AL acquired a new position in ONEOK in the 1st quarter valued at approximately $280,000. LS Investment Advisors LLC increased its position in ONEOK by 9.5% in the 2nd quarter. LS Investment Advisors LLC now owns 8,670 shares of the utilities provider’s stock valued at $452,000 after acquiring an additional 751 shares during the period. Louisiana State Employees Retirement System increased its position in ONEOK by 80.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the utilities provider’s stock valued at $1,226,000 after acquiring an additional 10,500 shares during the period. Finally, Aperio Group LLC increased its position in ONEOK by 13.6% in the 2nd quarter. Aperio Group LLC now owns 174,037 shares of the utilities provider’s stock valued at $9,078,000 after acquiring an additional 20,783 shares during the period. Institutional investors and hedge funds own 57.79% of the company’s stock.
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OKE has been the subject of several recent research reports. J P Morgan Chase & Co restated a “neutral” rating and issued a $58.00 price target on shares of ONEOK in a research report on Monday, September 11th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Tuesday, October 17th. Argus restated a “buy” rating and issued a $59.00 price target (up from $55.00) on shares of ONEOK in a research report on Thursday, August 24th. Credit Suisse Group decreased their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Finally, BMO Capital Markets set a $62.00 price target on shares of ONEOK and gave the company a “buy” rating in a research report on Wednesday, October 18th. One investment 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’s stock. The company has a consensus rating of “Hold” and a consensus price target of $59.07.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company earned $0.43 earnings per share. 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. Investors of record on Monday, November 6th were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.88%. The ex-dividend date was Friday, November 3rd. ONEOK’s dividend payout ratio 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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