Korea Investment CORP trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 92.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,164 shares of the utilities provider’s stock after selling 190,979 shares during the period. Korea Investment CORP’s holdings in ONEOK were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKE. Alps Advisors Inc. increased its holdings in shares of ONEOK by 7.6% in the 2nd quarter. Alps Advisors Inc. now owns 1,036,551 shares of the utilities provider’s stock valued at $55,404,000 after purchasing an additional 73,248 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of ONEOK by 26.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,669,851 shares of the utilities provider’s stock valued at $116,606,000 after purchasing an additional 354,118 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of ONEOK by 221.6% in the 2nd quarter. First Trust Advisors LP now owns 144,014 shares of the utilities provider’s stock valued at $10,056,000 after purchasing an additional 99,233 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at about $190,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of ONEOK in the 2nd quarter valued at about $201,000. 73.24% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on OKE. Citigroup upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Thursday, November 29th. Mizuho initiated coverage on shares of ONEOK in a report on Wednesday, November 28th. They issued a “neutral” rating and a $70.00 price target for the company. Bank of America upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and raised their target price for the company from $71.00 to $75.00 in a report on Friday, November 2nd. ValuEngine downgraded shares of ONEOK from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Wells Fargo & Co raised their target price on shares of ONEOK from $75.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $70.65.
ONEOK stock opened at $59.99 on Friday. ONEOK, Inc. has a 12-month low of $51.28 and a 12-month high of $71.99. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.21 and a beta of 0.90. 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 (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the company earned $0.43 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 2.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were paid a dividend of $0.855 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.83. This represents a $3.42 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Friday, November 2nd. ONEOK’s dividend payout ratio (DPR) is currently 194.32%.
ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2018/12/08/korea-investment-corp-trims-holdings-in-oneok-inc-oke.html.
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.
Further Reading: Short Selling – Explanation For Shorting 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.