Lucas Capital Management Invests $235,000 in ONEOK, Inc. (OKE) Stock
Lucas Capital Management acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,235 shares of the utilities provider’s stock, valued at approximately $235,000.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in ONEOK by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after purchasing an additional 4,002,795 shares in the last quarter. BlackRock Inc. lifted its holdings in ONEOK by 28.4% in the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after purchasing an additional 5,317,251 shares in the last quarter. State Street Corp lifted its holdings in ONEOK by 53.7% in the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in ONEOK by 6.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock valued at $474,586,000 after purchasing an additional 526,450 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ONEOK by 25.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock valued at $356,012,000 after purchasing an additional 1,369,438 shares in the last quarter. Institutional investors own 53.22% of the company’s stock.
Shares of ONEOK, Inc. (NYSE OKE) traded down $0.23 during trading hours on Monday, hitting $52.17. The company had a trading volume of 1,663,940 shares, compared to its average volume of 3,296,294. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. The firm has a market cap of $20,070.00, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 3.79 and a beta of 1.30. ONEOK, Inc. has a 1 year low of $46.82 and a 1 year high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the previous year, the business posted $0.43 earnings per share. sell-side analysts expect that ONEOK, Inc. will post 1.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Friday, November 3rd. ONEOK’s payout ratio is 186.25%.
OKE has been the topic of a number of research reports. Jefferies Group LLC restated a “hold” rating and issued a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a report on Friday, September 1st. UBS AG raised their price objective on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research lowered ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, Barclays PLC initiated coverage on ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.07.
ONEOK Company Profile
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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