ONEOK, Inc. (OKE) Position Lifted by Atlantic Trust LLC
Atlantic Trust LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,197 shares of the utilities provider’s stock after acquiring an additional 2,341 shares during the quarter. Atlantic Trust LLC’s holdings in ONEOK were worth $1,175,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of OKE. Harvest Fund Advisors LLC acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $414,256,000. Kayne Anderson Capital Advisors LP increased its holdings in shares of ONEOK by 184.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after acquiring an additional 6,148,494 shares during the last quarter. State Street Corp increased its holdings in shares of ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after acquiring an additional 6,086,061 shares during the last quarter. BlackRock Inc. increased its holdings in shares of ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after acquiring an additional 5,317,251 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of ONEOK by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after acquiring an additional 4,002,795 shares during the last quarter. 71.02% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. BidaskClub raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. J P Morgan Chase & Co reissued a “neutral” rating and set a $58.00 target price on shares of ONEOK in a report on Monday, September 11th. Zacks Investment Research lowered ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday. Argus reaffirmed a “buy” rating and issued a $59.00 price objective (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th. 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 presently has a consensus rating of “Hold” and an average target price of $59.07.
Shares of ONEOK, Inc. (NYSE:OKE) traded down $0.18 during midday trading on Thursday, reaching $53.22. The company’s stock had a trading volume of 1,861,700 shares, compared to its average volume of 3,211,826. The firm has a market cap of $20,475.52, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 3.42 and a beta of 1.26. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. ONEOK, Inc. has a 52-week low of $47.14 and a 52-week high of $59.47.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company 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 quarter in the previous year, the company posted $0.43 earnings per share. research analysts expect that ONEOK, Inc. will post 1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a dividend of $0.745 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.60%. ONEOK’s payout ratio is 186.25%.
In related news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was purchased at an average cost of $51.00 per share, for a total transaction of $91,800.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
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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