United Services Automobile Association grew its position in ONEOK, Inc. (NYSE:OKE) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 178,625 shares of the utilities provider’s stock after acquiring an additional 2,141 shares during the period. United Services Automobile Association’s holdings in ONEOK were worth $12,109,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. JNBA Financial Advisors lifted its stake in shares of ONEOK by 827.4% in the 3rd quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 1,812 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of ONEOK in the 3rd quarter valued at $140,000. Rehmann Capital Advisory Group lifted its stake in shares of ONEOK by 205.6% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 1,643 shares during the last quarter. Palo Capital Inc. bought a new position in shares of ONEOK in the 3rd quarter valued at $175,000. Finally, First Hawaiian Bank bought a new position in shares of ONEOK in the 3rd quarter valued at $177,000. Institutional investors own 73.24% of the company’s stock.
OKE has been the subject of a number of research reports. ValuEngine cut ONEOK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Wells Fargo & Co dropped their price target on ONEOK from $77.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, September 13th. Goldman Sachs Group initiated coverage on ONEOK in a research note on Monday, October 8th. They issued a “neutral” rating and a $68.00 price target for the company. Credit Suisse Group initiated coverage on ONEOK in a research note on Thursday, October 11th. They issued a “neutral” rating and a $74.00 price target for the company. Finally, Barclays cut ONEOK from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $73.00 to $70.00 in a research note on Friday, October 12th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. ONEOK has a consensus rating of “Buy” and an average target price of $70.65.
NYSE OKE opened at $59.99 on Friday. The firm has a market capitalization of $24.42 billion, a P/E ratio of 34.09, a P/E/G ratio of 2.21 and a beta of 0.90. ONEOK, Inc. has a twelve month low of $51.28 and a twelve month high of $71.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.51.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $3.39 billion during 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 in the prior year, the business posted $0.43 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 2.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $0.855 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 5.70%. This is an increase from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, November 2nd. ONEOK’s dividend payout ratio is presently 194.32%.
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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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