ONEOK, Inc. (NYSE:OKE) Director Brian L. Derksen acquired 1,800 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $51.00 per share, with a total value of $91,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
ONEOK, Inc. (OKE) traded up $0.38 on Thursday, hitting $50.58. The stock had a trading volume of 2,233,000 shares, compared to its average volume of 3,259,774. ONEOK, Inc. has a 1-year low of $47.14 and a 1-year high of $59.47. The stock has a market capitalization of $19,248.52, a price-to-earnings ratio of 31.38, a P/E/G ratio of 3.65 and a beta of 1.29. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the 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 analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. research analysts expect that ONEOK, Inc. will post 1.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is currently 186.25%.
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Several brokerages recently weighed in on OKE. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS Group AG raised their price target on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Mizuho assumed coverage on ONEOK in a research report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target for the company. Barclays PLC assumed coverage on ONEOK in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target for the company. Finally, Jefferies Group LLC restated a “hold” rating and set a $52.00 price target (up from $51.00) on shares of ONEOK in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $59.07.
Several hedge funds and other institutional investors have recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. raised its stake in shares of ONEOK by 269.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after acquiring an additional 9,737,701 shares in the last quarter. Harvest Fund Advisors LLC acquired a new stake in shares of ONEOK in the third quarter valued at $414,256,000. Kayne Anderson Capital Advisors LP raised its stake in shares of ONEOK by 184.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after acquiring an additional 6,148,494 shares in the last quarter. State Street Corp raised 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 valued at $908,434,000 after acquiring an additional 6,086,061 shares in the last quarter. Finally, BlackRock Inc. raised 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 valued at $1,252,605,000 after acquiring an additional 5,317,251 shares in the last quarter. Institutional investors and hedge funds own 57.79% of the company’s stock.
ONEOK Company Profile
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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