Bank of New York Mellon Corp Boosts Stock Holdings in ONEOK, Inc. $OKE

Bank of New York Mellon Corp grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,862,530 shares of the utilities provider’s stock after purchasing an additional 21,732 shares during the quarter. Bank of New York Mellon Corp’s holdings in ONEOK were worth $354,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC grew its position in ONEOK by 3.1% during the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 122 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the last quarter. Focused Wealth Management Inc increased its stake in shares of ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after buying an additional 142 shares during the period. Fidelis Capital Partners LLC raised its holdings in ONEOK by 4.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after buying an additional 144 shares during the last quarter. Finally, Silver Lake Advisory LLC boosted its position in ONEOK by 1.4% during the 3rd quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock valued at $787,000 after buying an additional 147 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research note on Friday, January 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Barclays cut their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of ONEOK in a report on Wednesday. Finally, TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.31.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

ONEOK Trading Down 1.0%

NYSE OKE opened at $78.48 on Friday. The firm has a market capitalization of $49.38 billion, a PE ratio of 14.43, a P/E/G ratio of 4.53 and a beta of 0.94. The stock’s 50 day moving average is $73.83 and its 200 day moving average is $73.47. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter last year, the firm posted $1.18 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.5%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 75.74%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.