Prudential Financial Inc. Has $31.18 Million Stake in ONEOK, Inc. (OKE)

Prudential Financial Inc. cut its position in ONEOK, Inc. (NYSE:OKE) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 459,875 shares of the utilities provider’s stock after selling 17,860 shares during the period. Prudential Financial Inc. owned about 0.11% of ONEOK worth $31,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global X Management Co LLC increased its stake in shares of ONEOK by 0.5% in the second quarter. Global X Management Co LLC now owns 534,805 shares of the utilities provider’s stock worth $37,345,000 after purchasing an additional 2,922 shares in the last quarter. Northern Trust Corp increased its stake in shares of ONEOK by 0.9% in the second quarter. Northern Trust Corp now owns 4,492,346 shares of the utilities provider’s stock worth $313,701,000 after purchasing an additional 38,609 shares in the last quarter. UMB Bank N A MO increased its stake in shares of ONEOK by 34.2% in the third quarter. UMB Bank N A MO now owns 3,863 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 985 shares in the last quarter. Dearborn Partners LLC increased its stake in shares of ONEOK by 1.2% in the third quarter. Dearborn Partners LLC now owns 428,758 shares of the utilities provider’s stock worth $29,066,000 after purchasing an additional 5,214 shares in the last quarter. Finally, Telemus Capital LLC purchased a new stake in shares of ONEOK in the third quarter worth $264,000. 74.40% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:OKE opened at $59.10 on Friday. 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, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $71.99. The firm has a market cap of $25.09 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.27 and a beta of 0.91.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business earned $0.43 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 2.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were given a dividend of $0.855 per share. The ex-dividend date was Friday, November 2nd. This represents a $3.42 annualized dividend and a yield of 5.79%. This is a positive change from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio (DPR) is 194.32%.

A number of brokerages recently weighed in on OKE. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, October 19th. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, October 19th. Wells Fargo & Co upped their target price on shares of ONEOK from $69.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Tuesday, October 16th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. ONEOK currently has a consensus rating of “Buy” and a consensus price target of $70.31.

WARNING: This story was reported by WKRB News and is owned by of WKRB News. If you are reading this story on another website, it was copied illegally and reposted in violation of US and international copyright & trademark legislation. The original version of this story can be accessed at https://www.wkrb13.com/2018/11/24/prudential-financial-inc-has-31-18-million-stake-in-oneok-inc-oke.html.

About ONEOK

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.

See Also: How Do You Calculate Return on Investment (ROI)?

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).

Institutional Ownership by Quarter for ONEOK (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.

Leave a Reply