Raymond James Trust N.A. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 39.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,185 shares of the utilities provider’s stock after purchasing an additional 2,042 shares during the period. Raymond James Trust N.A.’s holdings in ONEOK were worth $502,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in OKE. JPMorgan Chase & Co. grew its stake in shares of ONEOK by 28.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock worth $207,436,000 after purchasing an additional 671,577 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of ONEOK by 6.3% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock worth $997,880,000 after purchasing an additional 877,072 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ONEOK by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock worth $451,167,000 after purchasing an additional 31,370 shares during the period. FMR LLC boosted its holdings in shares of ONEOK by 42.3% during the third quarter. FMR LLC now owns 209,634 shares of the utilities provider’s stock worth $14,211,000 after purchasing an additional 62,346 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of ONEOK during the third quarter worth approximately $301,000. 75.54% of the stock is currently owned by institutional investors.
OKE has been the subject of several research reports. Mizuho set a $73.00 price target on shares of ONEOK and gave the stock a “hold” rating in a report on Tuesday, February 26th. Raymond James cut shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday. Evercore ISI initiated coverage on shares of ONEOK in a research note on Tuesday, February 5th. They issued a $68.00 target price for the company. UBS Group cut shares of ONEOK from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research note on Tuesday, February 26th. Finally, Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Tuesday, March 19th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $71.11.
ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 25th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). ONEOK had a return on equity of 17.10% and a net margin of 9.14%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm posted $0.53 EPS. Analysts predict that ONEOK, Inc. will post 3.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 29th will be given a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a yield of 5.00%. This is a positive change from ONEOK’s previous quarterly dividend of $0.86. ONEOK’s payout ratio is 123.74%.
In related news, Director Eduardo A. Rodriguez sold 1,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the director now owns 15,536 shares of the company’s stock, valued at $1,037,028. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.
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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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