Commerce Bank Boosts Position in Oneok Inc. (OKE)
Commerce Bank increased its stake in shares of Oneok Inc. (NYSE:OKE) by 6.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,051 shares of the company’s stock after buying an additional 2,000 shares during the period. Commerce Bank’s holdings in Oneok were worth $1,750,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock valued at $982,554,000 after buying an additional 1,401,380 shares during the period. Riverhead Capital Management LLC boosted its stake in Oneok by 1,143.8% in the second quarter. Riverhead Capital Management LLC now owns 962,591 shares of the company’s stock valued at $8,490,000 after buying an additional 885,199 shares during the period. Bank of New York Mellon Corp boosted its stake in Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock valued at $191,625,000 after buying an additional 724,684 shares during the period. BlackRock Fund Advisors boosted its stake in Oneok by 6.2% in the second quarter. BlackRock Fund Advisors now owns 11,605,034 shares of the company’s stock valued at $550,659,000 after buying an additional 677,055 shares during the period. Finally, Jennison Associates LLC boosted its stake in Oneok by 360.1% in the third quarter. Jennison Associates LLC now owns 850,207 shares of the company’s stock valued at $43,692,000 after buying an additional 665,436 shares during the period. Hedge funds and other institutional investors own 71.32% of the company’s stock.
Shares of Oneok Inc. (NYSE:OKE) traded down 1.73% during midday trading on Monday, hitting $52.82. 1,194,064 shares of the stock were exchanged. The firm has a 50 day moving average of $49.79 and a 200-day moving average of $47.30. The stock has a market cap of $11.12 billion, a P/E ratio of 39.01 and a beta of 1.06. Oneok Inc. has a 12 month low of $18.84 and a 12 month high of $54.50.
Oneok (NYSE:OKE) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. Oneok had a net margin of 3.50% and a return on equity of 9.99%. During the same quarter in the previous year, the company posted $0.39 EPS. Equities research analysts anticipate that Oneok Inc. will post $1.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Thursday, October 27th. Oneok’s payout ratio is 182.22%.
Several equities analysts recently commented on OKE shares. Morgan Stanley lowered shares of Oneok from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG raised shares of Oneok from a “sell” rating to a “hold” rating and increased their target price for the company from $49.00 to $52.00 in a report on Monday, October 10th. Jefferies Group reaffirmed a “hold” rating and set a $46.00 target price on shares of Oneok in a report on Sunday, October 16th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 target price (up previously from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Finally, Zacks Investment Research lowered shares of Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.00.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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