Los Angeles Capital Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,258 shares of the utilities provider's stock after acquiring an additional 9,497 shares during the quarter. Los Angeles Capital Management LLC's holdings in ONEOK were worth $3,395,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. M&G Plc bought a new stake in ONEOK during the 1st quarter valued at about $77,634,000. Bahl & Gaynor Inc. lifted its holdings in ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock valued at $41,995,000 after buying an additional 501,216 shares in the last quarter. Cetera Investment Advisers lifted its holdings in ONEOK by 370.1% during the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider's stock valued at $49,327,000 after buying an additional 484,403 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider's stock valued at $330,000 after buying an additional 392,644 shares in the last quarter. Institutional investors own 69.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Tudor Pickering upgraded shares of ONEOK to a "hold" rating in a report on Thursday, July 18th. Wells Fargo & Company boosted their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a report on Friday, August 30th. Mizuho upgraded shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.92.
Read Our Latest Analysis on ONEOK
ONEOK Stock Performance
NYSE:OKE traded up $0.35 during trading hours on Wednesday, hitting $108.17. 4,337,629 shares of the company were exchanged, compared to its average volume of 2,763,531. The stock has a market capitalization of $63.19 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 5.38 and a beta of 1.66. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $109.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company's 50 day moving average price is $95.51 and its 200-day moving average price is $87.09.
ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.
ONEOK Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, November 1st. ONEOK's dividend payout ratio is presently 82.85%.
Insiders Place Their Bets
In other news, Director Pattye L. Moore sold 3,379 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.
ONEOK Profile
(
Free Report)
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.
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