BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in ONEOK, Inc. (NYSE:OKE) by 26.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,561 shares of the utilities provider’s stock after selling 46,265 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ONEOK were worth $8,580,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of OKE. JNBA Financial Advisors lifted its stake in ONEOK by 827.4% in the third quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 1,812 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in ONEOK in the third quarter valued at approximately $140,000. Rehmann Capital Advisory Group lifted its stake in ONEOK by 205.6% in the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 1,643 shares during the last quarter. Palo Capital Inc. purchased a new position in ONEOK in the third quarter valued at approximately $175,000. Finally, First Hawaiian Bank purchased a new position in ONEOK in the third quarter valued at approximately $177,000. Institutional investors and hedge funds own 73.24% of the company’s stock.
Shares of OKE stock opened at $59.99 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.51 and a debt-to-equity ratio of 1.25. ONEOK, Inc. has a 1 year low of $51.28 and a 1 year high of $71.99. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.25 and a beta of 0.90.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 2.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were issued a dividend of $0.855 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $3.42 dividend on an annualized basis and a yield of 5.70%. ONEOK’s payout ratio is presently 194.32%.
Several equities analysts recently commented on OKE shares. Credit Suisse Group started coverage on ONEOK in a research note on Thursday, October 11th. They issued a “neutral” rating and a $74.00 price objective on the stock. Seaport Global Securities upgraded ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, October 19th. ValuEngine upgraded ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Goldman Sachs Group assumed coverage on ONEOK in a research note on Monday, October 8th. They issued a “neutral” rating and a $68.00 price objective on the stock. Finally, Barclays cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $73.00 to $70.00 in a report on Friday, October 12th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.65.
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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.
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