Everett Harris & Co. CA lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,858 shares of the utilities provider’s stock after selling 6,630 shares during the quarter. Everett Harris & Co. CA’s holdings in ONEOK were worth $11,927,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. FMR LLC raised its stake in shares of ONEOK by 26.7% in the first quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock worth $16,051,000 after acquiring an additional 48,432 shares during the last quarter. Calton & Associates Inc. bought a new position in shares of ONEOK in the second quarter worth about $252,000. Crossmark Global Holdings Inc. raised its stake in shares of ONEOK by 2.2% in the second quarter. Crossmark Global Holdings Inc. now owns 30,673 shares of the utilities provider’s stock worth $2,111,000 after acquiring an additional 671 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of ONEOK by 0.4% in the second quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after acquiring an additional 822 shares during the last quarter. Finally, Chesley Taft & Associates LLC raised its stake in shares of ONEOK by 2.7% in the second quarter. Chesley Taft & Associates LLC now owns 9,625 shares of the utilities provider’s stock worth $662,000 after acquiring an additional 250 shares during the last quarter. 74.59% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. Mitsubishi UFJ Financial Group boosted their target price on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $81.00 in a research report on Sunday, November 3rd. Argus lifted their price target on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research report on Tuesday, August 6th. Barclays set a $79.00 price target on shares of ONEOK and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Credit Suisse Group lifted their price target on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $74.71.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.75 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 3.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a dividend of $0.915 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.66 dividend on an annualized basis and a yield of 5.18%. This is a boost from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s payout ratio is currently 131.65%.
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.
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