5,556 Shares in ONEOK, Inc. (OKE) Purchased by WealthTrust Axiom LLC
WealthTrust Axiom LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,556 shares of the utilities provider’s stock, valued at approximately $307,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. FMR LLC increased its stake in shares of ONEOK by 11.3% during the 1st quarter. FMR LLC now owns 116,387 shares of the utilities provider’s stock valued at $6,452,000 after acquiring an additional 11,822 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of ONEOK by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 301,399 shares of the utilities provider’s stock valued at $16,710,000 after acquiring an additional 9,820 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of ONEOK by 4.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 8,060 shares of the utilities provider’s stock valued at $447,000 after acquiring an additional 330 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ONEOK by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 899,251 shares of the utilities provider’s stock valued at $49,850,000 after acquiring an additional 16,026 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of ONEOK by 90.0% during the 1st quarter. Bank of America Corp DE now owns 299,045 shares of the utilities provider’s stock worth $16,579,000 after purchasing an additional 141,615 shares during the period. 52.51% of the stock is owned by institutional investors.
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A number of analysts have recently issued reports on OKE shares. BMO Capital Markets set a $62.00 target price on ONEOK and gave the stock a “buy” rating in a report on Wednesday, October 18th. Argus reiterated a “buy” rating and set a $59.00 target price (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG boosted their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays PLC started coverage on ONEOK in a report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.07.
ONEOK, Inc. (OKE) traded down $0.08 during midday trading on Monday, reaching $52.57. The company’s stock had a trading volume of 988,365 shares, compared to its average volume of 2,263,643. The stock has a market cap of $20,187.94, a PE ratio of 32.91, a PEG ratio of 3.63 and a beta of 1.29. ONEOK, Inc. has a 52-week low of $46.04 and a 52-week high of $59.47. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the prior year, the company earned $0.43 EPS. equities analysts anticipate that ONEOK, Inc. will post 1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Friday, November 3rd. ONEOK’s dividend payout ratio is presently 186.25%.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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