Private Advisor Group LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 75.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,253 shares of the utilities provider’s stock after purchasing an additional 19,869 shares during the period. Private Advisor Group LLC’s holdings in ONEOK were worth $2,957,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new stake in ONEOK in the fourth quarter valued at approximately $29,000. WealthPLAN Partners LLC bought a new stake in ONEOK in the first quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in ONEOK by 211.2% in the first quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Worth Asset Management LLC bought a new stake in ONEOK in the first quarter valued at approximately $30,000. Finally, Quarry LP bought a new stake in ONEOK in the first quarter valued at approximately $31,000. 68.87% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Pickering Energy Partners assumed coverage on ONEOK in a report on Tuesday, October 3rd. They set an “underperform” rating on the stock. Scotiabank upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a report on Monday, October 2nd. Wells Fargo & Company cut their price target on ONEOK from $75.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, August 11th. StockNews.com assumed coverage on ONEOK in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Raymond James increased their price target on ONEOK from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $75.00.
ONEOK Trading Up 0.4 %
NYSE OKE opened at $66.89 on Tuesday. The firm has a market capitalization of $38.97 billion, a P/E ratio of 12.27, a PEG ratio of 1.72 and a beta of 1.71. The business has a fifty day simple moving average of $66.01 and a 200 day simple moving average of $63.80. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $71.57. The company has a current ratio of 0.97, a quick ratio of 0.66 and a debt-to-equity ratio of 1.32.
ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.03). The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.96 billion. ONEOK had a net margin of 14.05% and a return on equity of 26.44%. During the same period in the previous year, the company posted $0.96 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.5 EPS for the current fiscal year.
ONEOK Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st were paid a $0.955 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $3.82 dividend on an annualized basis and a yield of 5.71%. ONEOK’s dividend payout ratio (DPR) is presently 70.09%.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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