ONEOK, Inc. (NYSE:OKE) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 710,314 shares of the utilities provider's stock after purchasing an additional 24,193 shares during the period. Principal Financial Group Inc. owned about 0.12% of ONEOK worth $64,731,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. National Pension Service grew its stake in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after acquiring an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. grew its stake in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Caxton Associates LP purchased a new position in ONEOK during the 2nd quarter worth $1,225,000. Point72 Europe London LLP bought a new stake in ONEOK during the 2nd quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock worth $4,972,000 after buying an additional 5,451 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.5 %

NYSE:OKE traded up $2.42 on Friday, hitting $100.08. The stock had a trading volume of 8,588,979 shares, compared to its average volume of 2,836,940. The company has a fifty day moving average price of $104.05 and a two-hundred day moving average price of $92.55. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $58.47 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 5.24 and a beta of 1.69.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 in the prior year, the company posted $0.99 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and an average 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.