ONEOK, Inc. (OKE) Position Increased by Retirement Systems of Alabama
Retirement Systems of Alabama increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,309 shares of the utilities provider’s stock after acquiring an additional 5,964 shares during the quarter. Retirement Systems of Alabama’s holdings in ONEOK were worth $10,213,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of OKE. FMR LLC lifted its holdings in ONEOK by 11.3% during the first quarter. FMR LLC now owns 116,387 shares of the utilities provider’s stock worth $6,452,000 after acquiring an additional 11,822 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of ONEOK by 4.3% in the first quarter. Thrivent Financial For Lutherans now owns 8,060 shares of the utilities provider’s stock valued at $447,000 after buying an additional 330 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of ONEOK in the first quarter valued at $280,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of ONEOK by 509.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,199 shares of the utilities provider’s stock valued at $1,784,000 after buying an additional 28,585 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of ONEOK by 9.5% in the second quarter. LS Investment Advisors LLC now owns 8,670 shares of the utilities provider’s stock valued at $452,000 after buying an additional 751 shares during the period. Institutional investors and hedge funds own 53.22% of the company’s stock.
ONEOK, Inc. (NYSE OKE) opened at $50.67 on Friday. 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. The company has a market capitalization of $19,420.00, a PE ratio of 32.11, a P/E/G ratio of 3.71 and a beta of 1.30.
ONEOK (NYSE:OKE) last posted 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). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. equities research analysts predict that ONEOK, Inc. will post 1.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is currently 186.25%.
OKE has been the topic of several research reports. J P Morgan Chase & Co restated a “neutral” rating and issued a $58.00 target price on shares of ONEOK in a research note on Monday, September 11th. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 17th. 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. Credit Suisse Group lowered their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, BMO Capital Markets set a $62.00 price objective on ONEOK and gave the company a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.07.
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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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