Huntington National Bank cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,122 shares of the utilities provider’s stock after selling 248 shares during the period. Huntington National Bank’s holdings in ONEOK were worth $230,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its holdings in ONEOK by 313.3% during the third quarter. State of Tennessee Treasury Department now owns 981,378 shares of the utilities provider’s stock valued at $72,318,000 after acquiring an additional 743,900 shares during the period. Point72 Asset Management L.P. bought a new stake in ONEOK during the second quarter valued at about $51,047,000. Vanguard Group Inc. raised its holdings in ONEOK by 1.6% during the second quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock valued at $3,208,599,000 after acquiring an additional 739,353 shares during the period. Scout Investments Inc. bought a new stake in ONEOK during the third quarter valued at about $44,621,000. Finally, Invesco Ltd. raised its holdings in ONEOK by 19.6% during the second quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock valued at $229,398,000 after acquiring an additional 546,731 shares during the period. Institutional investors own 74.40% of the company’s stock.
Shares of OKE stock traded up $0.71 during trading hours on Friday, hitting $70.48. The stock had a trading volume of 1,716,742 shares, compared to its average volume of 1,912,538. ONEOK, Inc. has a one year low of $50.26 and a one year high of $77.21. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.95. The stock’s 50-day moving average price is $71.29 and its two-hundred day moving average price is $69.30. The stock 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 (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 3.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.915 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is presently 131.65%.
A number of equities research analysts have commented on OKE shares. Raymond James decreased their price target on ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Tudor Pickering started coverage on ONEOK in a report on Friday. They set a “buy” rating and a $74.00 price target on the stock. Credit Suisse Group raised their price target on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Barclays set a $79.00 target price on ONEOK and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Mitsubishi UFJ Financial Group lifted their target price on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus 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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