Montag A & Associates Inc. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 47,074 shares of the utilities provider’s stock, valued at approximately $3,469,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at $27,000. JNBA Financial Advisors boosted its holdings in shares of ONEOK by 91.3% in the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of ONEOK in the 2nd quarter valued at $32,000. Gradient Investments LLC boosted its holdings in shares of ONEOK by 82.3% in the 2nd quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after buying an additional 260 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of ONEOK by 498.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after buying an additional 508 shares in the last quarter. Institutional investors own 74.40% of the company’s stock.
Shares of OKE traded up $0.71 during trading hours on Friday, reaching $70.48. The company had a trading volume of 1,755,013 shares, compared to its average volume of 1,912,538. The firm has a 50 day simple moving average of $71.38 and a 200-day simple moving average of $69.29. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $29.68 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.20 and a beta of 1.13. ONEOK, Inc. has a 12-month low of $50.26 and a 12-month high of $77.21.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same quarter last year, the firm posted $0.75 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 3.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, November 1st. This is an increase from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s dividend payout ratio (DPR) is currently 131.65%.
Several research analysts have recently issued reports on the stock. Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the company from $73.00 to $81.00 in a report on Sunday, November 3rd. Mitsubishi UFJ Financial Group upped their target price on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a report on Wednesday, September 18th. Barclays set a $79.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Tudor Pickering started coverage on shares of ONEOK in a research report on Friday. They set a “buy” rating and a $74.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $74.71.
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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