Brasada Capital Management LP boosted its stake in ONEOK, Inc. (NYSE:OKE) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,630 shares of the utilities provider’s stock after purchasing an additional 2,061 shares during the period. ONEOK makes up approximately 2.4% of Brasada Capital Management LP’s holdings, making the stock its 11th largest position. Brasada Capital Management LP’s holdings in ONEOK were worth $8,889,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Ballentine Partners LLC grew its position in ONEOK by 18.3% in the 2nd quarter. Ballentine Partners LLC now owns 25,538 shares of the utilities provider’s stock worth $1,758,000 after purchasing an additional 3,955 shares during the period. Point72 Asset Management L.P. bought a new stake in ONEOK in the 2nd quarter worth approximately $51,047,000. Retirement Systems of Alabama grew its position in ONEOK by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after purchasing an additional 822 shares during the period. Eqis Capital Management Inc. grew its position in ONEOK by 35.5% in the 2nd quarter. Eqis Capital Management Inc. now owns 15,465 shares of the utilities provider’s stock worth $1,064,000 after purchasing an additional 4,052 shares during the period. Finally, RFG Advisory LLC grew its position in shares of ONEOK by 9.1% during the 2nd quarter. RFG Advisory LLC now owns 11,032 shares of the utilities provider’s stock valued at $764,000 after acquiring an additional 923 shares during the period. 74.40% of the stock is owned by institutional investors and hedge funds.
OKE has been the subject of a number of recent research reports. Argus boosted their price objective on shares of ONEOK to $82.00 and gave the company an “average” rating in a research report on Tuesday, August 6th. Mitsubishi UFJ Financial Group boosted their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Credit Suisse Group boosted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Goldman Sachs Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. Finally, Barclays set a $79.00 price objective on shares of ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $74.71.
Shares of OKE stock opened at $70.48 on Friday. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.20 and a beta of 1.13. 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 firm has a fifty day moving average price of $71.29 and a 200-day moving average price of $69.30. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $77.21.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities research analysts expect that ONEOK, Inc. will post 3.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.66 annualized dividend and a yield of 5.19%. This is an increase from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s dividend payout ratio is currently 131.65%.
ONEOK Company Profile
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.
Recommended Story: What does earnings per share mean?
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.