Principal Financial Group Inc. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 710,314 shares of the utilities provider's stock after purchasing an additional 24,193 shares during the quarter. Principal Financial Group Inc. owned 0.12% of ONEOK worth $64,731,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of OKE. Matrix Trust Co acquired a new position in shares of ONEOK during the third quarter valued at about $29,000. Quest Partners LLC bought a new position in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC acquired a new position in ONEOK in the 2nd quarter valued at approximately $31,000. Values First Advisors Inc. bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $44,000. Finally, Fortitude Family Office LLC grew its holdings in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after purchasing an additional 135 shares in the last quarter. 69.13% of the stock is owned by institutional investors.
ONEOK Price Performance
NYSE:OKE traded up $3.02 during mid-day trading on Friday, reaching $107.16. 3,580,082 shares of the company were exchanged, compared to its average volume of 2,725,274. ONEOK, Inc. has a 12 month low of $63.77 and a 12 month high of $107.19. The stock has a market cap of $62.60 billion, a PE ratio of 22.42, a PEG ratio of 5.35 and a beta of 1.66. 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 company has a fifty day moving average of $94.86 and a 200 day moving average of $86.67.
ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the company earned $0.99 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.
ONEOK Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. ONEOK's payout ratio is currently 82.85%.
Insider Transactions at ONEOK
In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on OKE. Royal Bank of Canada upped their target price on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Morgan Stanley upgraded shares of ONEOK from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Finally, Scotiabank raised their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.92.
View Our Latest Stock Analysis on ONEOK
ONEOK Company 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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