Rakuten Investment Management Inc. Purchases 10,075 Shares of ONEOK, Inc. $OKE

Rakuten Investment Management Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,123 shares of the utilities provider’s stock after acquiring an additional 10,075 shares during the period. Rakuten Investment Management Inc.’s holdings in ONEOK were worth $9,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after purchasing an additional 5,148,768 shares during the last quarter. State Street Corp increased its position in shares of ONEOK by 5.0% during the second quarter. State Street Corp now owns 43,633,749 shares of the utilities provider’s stock worth $3,793,518,000 after purchasing an additional 2,059,368 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 1.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,834,827 shares of the utilities provider’s stock valued at $1,028,920,000 after purchasing an additional 155,652 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ONEOK by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,552,597 shares of the utilities provider’s stock valued at $502,000,000 after purchasing an additional 187,880 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of ONEOK by 5.2% during the 1st quarter. Bank of America Corp DE now owns 5,504,989 shares of the utilities provider’s stock valued at $497,596,000 after purchasing an additional 272,704 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 2.6%

NYSE:OKE opened at $86.26 on Friday. ONEOK, Inc. has a 12 month low of $66.93 and a 12 month high of $99.85. The firm has a fifty day simple moving average of $92.58 and a 200-day simple moving average of $88.89. The company has a current ratio of 0.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $54.38 billion, a P/E ratio of 13.39, a PEG ratio of 1.62 and a beta of 0.77.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.63. ONEOK had a net margin of 9.42% and a return on equity of 16.36%. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same period in the previous year, the company earned $1.49 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 6.23 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK’s payout ratio is currently 66.46%.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Freedom Broker boosted their target price on ONEOK from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price target on ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Jefferies Financial Group set a $97.00 price target on ONEOK in a report on Thursday, October 29th. Capital One Financial started coverage on ONEOK in a research note on Tuesday, September 22nd. They set an “overweight” rating and a $110.00 price target on the stock. Finally, Mizuho boosted their price target on ONEOK from $91.00 to $95.00 in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $99.25.

About ONEOK

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.