Global Financial Private Capital LLC grew its stake in ONEOK, Inc. (NYSE:OKE) by 43.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,719 shares of the utilities provider’s stock after purchasing an additional 18,369 shares during the quarter. Global Financial Private Capital LLC’s holdings in ONEOK were worth $4,116,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in ONEOK by 9.8% during the second quarter. BlackRock Inc. now owns 36,629,660 shares of the utilities provider’s stock worth $2,557,848,000 after acquiring an additional 3,276,879 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in ONEOK during the second quarter worth about $94,768,000. First Trust Advisors LP raised its stake in ONEOK by 266.5% during the third quarter. First Trust Advisors LP now owns 527,768 shares of the utilities provider’s stock worth $35,777,000 after acquiring an additional 383,754 shares during the period. Miller Howard Investments Inc. NY raised its stake in ONEOK by 30.0% during the third quarter. Miller Howard Investments Inc. NY now owns 1,537,479 shares of the utilities provider’s stock worth $104,226,000 after acquiring an additional 355,103 shares during the period. Finally, Wells Fargo & Company MN raised its stake in ONEOK by 26.9% during the second quarter. Wells Fargo & Company MN now owns 1,669,851 shares of the utilities provider’s stock worth $116,606,000 after acquiring an additional 354,118 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.
Several equities research analysts recently weighed in on OKE shares. Barclays lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $73.00 to $70.00 in a research note on Friday, October 12th. Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, October 16th. Credit Suisse Group started coverage on shares of ONEOK in a research note on Thursday, October 11th. They set a “neutral” rating and a $74.00 price objective on the stock. ValuEngine lowered shares of ONEOK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Seaport Global Securities upgraded shares of 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. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. ONEOK has an average rating of “Buy” and a consensus price target of $70.31.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, beating the 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 analyst estimates of $3.31 billion. During the same quarter last year, the business earned $0.43 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 2.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be paid a $0.855 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $3.42 annualized dividend and a dividend yield of 5.42%. This is a positive change from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio (DPR) 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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