Geode Capital Management LLC Has $1.24 Billion Holdings in ONEOK, Inc. (NYSE:OKE)

Geode Capital Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,680,875 shares of the utilities provider's stock after buying an additional 138,430 shares during the period. Geode Capital Management LLC owned about 2.34% of ONEOK worth $1,242,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Barclays PLC raised its stake in shares of ONEOK by 16.1% in the 3rd quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock valued at $172,131,000 after purchasing an additional 262,486 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of ONEOK by 46.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,434 shares of the utilities provider's stock valued at $131,000 after acquiring an additional 455 shares during the last quarter. Hamilton Capital LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at approximately $281,000. Nomura Asset Management Co. Ltd. lifted its stake in ONEOK by 4.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,381 shares of the utilities provider's stock worth $16,438,000 after purchasing an additional 7,238 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in ONEOK in the third quarter worth $1,189,000. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE OKE traded up $0.02 during trading hours on Wednesday, reaching $104.36. 2,681,146 shares of the company's stock were exchanged, compared to its average volume of 2,808,220. The firm has a fifty day moving average of $102.95 and a 200-day moving average of $91.43. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The stock has a market cap of $60.97 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.79%. ONEOK's dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective for the company. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.00.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.