Cowen Inc. Takes $246,000 Position in ONEOK, Inc. (OKE)
Cowen Inc. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,447 shares of the utilities provider’s stock, valued at approximately $246,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ropes Wealth Advisors LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $103,000. Winslow Evans & Crocker Inc. boosted its position in shares of ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,620 shares in the last quarter. Mercer Capital Advisers Inc. boosted its position in shares of ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 1,379 shares in the last quarter. Enterprise Financial Services Corp lifted its stake in ONEOK by 332.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Highlander Capital Management LLC bought a new position in ONEOK in the 2nd quarter valued at approximately $154,000. Institutional investors and hedge funds own 71.02% of the company’s stock.
Several equities analysts recently commented on OKE shares. Barclays started coverage on shares of ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective for the company. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. Mizuho started coverage on shares of ONEOK in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. ONEOK has an average rating of “Hold” and a consensus target price of $59.07.
In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was purchased at an average price of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.
ONEOK, Inc. (OKE) opened at $53.01 on Friday. The stock has a market cap of $20,326.00, a price-to-earnings ratio of 33.13, a PEG ratio of 3.40 and a beta of 1.26. ONEOK, Inc. has a 52 week low of $47.14 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same period in the previous year, the business posted $0.43 EPS. sell-side analysts forecast that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is currently 186.25%.
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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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