D.A. Davidson & CO. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,847 shares of the utilities provider’s stock after selling 1,769 shares during the period. D.A. Davidson & CO.’s holdings in ONEOK were worth $2,430,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of OKE. BlackRock Inc. increased its position in shares of ONEOK by 9.8% during the second quarter. BlackRock Inc. now owns 36,629,660 shares of the utilities provider’s stock worth $2,557,848,000 after purchasing an additional 3,276,879 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of ONEOK in the 2nd quarter valued at $94,768,000. Tortoise Capital Advisors L.L.C. increased its position in shares of ONEOK by 6.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock valued at $997,880,000 after acquiring an additional 877,072 shares during the period. Janus Henderson Group PLC increased its position in shares of ONEOK by 177.9% in the 3rd quarter. Janus Henderson Group PLC now owns 1,320,474 shares of the utilities provider’s stock valued at $89,515,000 after acquiring an additional 845,352 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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 valued at $207,436,000 after acquiring an additional 671,577 shares during the period. 74.40% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on OKE. Wells Fargo & Co upped their target price on ONEOK from $69.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. Bank of America upped their target price on ONEOK from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Mizuho began coverage on ONEOK in a research report on Wednesday. They issued a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, October 19th. Finally, ValuEngine downgraded ONEOK from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. ONEOK currently has an average rating of “Buy” and an average target price of $70.65.
Shares of OKE opened at $61.34 on Friday. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 2.25 and a beta of 0.91. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.51 and a current ratio of 0.74. ONEOK, Inc. has a fifty-two week low of $49.76 and a fifty-two week high of $71.99.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.31 billion. ONEOK had a return on equity of 16.32% and a net margin of 6.96%. During the same period last year, the firm earned $0.43 EPS. On average, analysts expect that ONEOK, Inc. will post 2.83 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were given a dividend of $0.855 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.83. This represents a $3.42 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend was Friday, November 2nd. ONEOK’s dividend payout ratio (DPR) is currently 194.32%.
ONEOK Company Profile
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
Recommended Story: Price to Earnings Ratio (PE), For Valuing Stocks
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.