Bessemer Group Inc. Raises Holdings in ONEOK, Inc. (OKE)
Bessemer Group Inc. raised its stake in ONEOK, Inc. (NYSE:OKE) by 69.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,823 shares of the utilities provider’s stock after acquiring an additional 36,336 shares during the period. Bessemer Group Inc.’s holdings in ONEOK were worth $4,922,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Delta Asset Management LLC TN acquired a new position in ONEOK in the second quarter valued at approximately $103,000. Ropes Wealth Advisors LLC acquired a new position in ONEOK in the second quarter valued at approximately $103,000. Smithfield Trust Co. boosted its stake in ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 1,034 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,620 shares during the period. Finally, Mercer Capital Advisers Inc. boosted its stake in ONEOK by 229.8% in the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,379 shares during the period. Institutional investors own 52.51% of the company’s stock.
OKE has been the subject of a number of research reports. BMO Capital Markets set a $62.00 target price on ONEOK and gave the company a “buy” rating in a research note on Wednesday, October 18th. Argus restated a “buy” rating and issued a $59.00 target price (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. UBS AG lifted their price target on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays PLC initiated coverage on ONEOK in a report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.07.
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Shares of ONEOK, Inc. (OKE) traded down $0.59 during trading hours on Friday, reaching $52.40. The company had a trading volume of 2,438,400 shares, compared to its average volume of 2,317,678. ONEOK, Inc. has a 1 year low of $46.82 and a 1 year high of $59.47. The company has a market capitalization of $20,092.10, a PE ratio of 32.75, a price-to-earnings-growth ratio of 3.79 and a beta of 1.29. 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 announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm earned $0.43 EPS. equities analysts predict that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be issued a dividend of $0.745 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.98 annualized dividend and a yield of 5.69%. ONEOK’s payout ratio is 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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