Van ECK Associates Corp Has $250,000 Position in ONEOK, Inc. (OKE)
Van ECK Associates Corp boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 70.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,519 shares of the utilities provider’s stock after buying an additional 1,873 shares during the period. Van ECK Associates Corp’s holdings in ONEOK were worth $250,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Ropes Wealth Advisors LLC bought a new position in ONEOK during the 2nd quarter valued at approximately $103,000. Smithfield Trust Co. boosted its stake in ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,034 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,620 shares during the last quarter. Mercer Capital Advisers Inc. boosted its stake in ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its stake in ONEOK by 332.8% during 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. 71.02% of the stock is owned by institutional investors.
Several brokerages have commented on OKE. UBS increased their target price on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. BidaskClub downgraded ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Mizuho began coverage on ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 target price on the stock. Barclays began coverage on ONEOK in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating and set a $52.00 target price (up from $51.00) on shares of ONEOK in a research note on Friday, September 1st. One 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 has a consensus rating of “Hold” and an average price target of $59.07.
In other news, Director Brian L. Derksen purchased 1,800 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.
ONEOK, Inc. (NYSE OKE) traded up $0.21 during mid-day trading on Monday, hitting $52.11. The stock had a trading volume of 3,260,200 shares, compared to its average volume of 3,241,012. The stock has a market cap of $19,980.89, a P/E ratio of 32.57, a P/E/G ratio of 3.34 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 current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.
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 Zacks’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter last year, the business earned $0.43 earnings per share. sell-side analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a $0.745 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.72%. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
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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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