Bank of New York Mellon Corp Purchases 292,815 Shares of Oneok Inc. (OKE)
Bank of New York Mellon Corp boosted its stake in Oneok Inc. (NYSE:OKE) by 7.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,331,287 shares of the company’s stock after buying an additional 292,815 shares during the period. Bank of New York Mellon Corp owned approximately 2.06% of Oneok worth $222,586,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Washington Trust Bank boosted its stake in shares of Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock valued at $103,000 after buying an additional 11 shares during the last quarter. Van ECK Associates Corp boosted its stake in Oneok by 1.0% in the second quarter. Van ECK Associates Corp now owns 3,207 shares of the company’s stock worth $152,000 after buying an additional 33 shares in the last quarter. Wright Investors Service Inc. boosted its stake in Oneok by 0.6% in the third quarter. Wright Investors Service Inc. now owns 6,808 shares of the company’s stock worth $350,000 after buying an additional 39 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Oneok by 1.0% in the third quarter. Prospera Financial Services Inc now owns 4,777 shares of the company’s stock worth $246,000 after buying an additional 48 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in Oneok by 0.5% in the second quarter. Johnson Investment Counsel Inc. now owns 15,090 shares of the company’s stock worth $716,000 after buying an additional 75 shares in the last quarter. 71.32% of the stock is currently owned by institutional investors.
Oneok Inc. (NYSE:OKE) opened at 54.93 on Thursday. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $55.75. The company has a market cap of $11.56 billion, a P/E ratio of 40.57 and a beta of 1.06. The firm has a 50-day moving average price of $49.79 and a 200-day moving average price of $47.30.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, November 1st. The company reported $0.43 earnings per share 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 period in the prior year, the business earned $0.39 EPS. On average, analysts forecast that Oneok Inc. will post $1.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.615 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.48%. Oneok’s dividend payout ratio is presently 182.22%.
A number of equities research analysts have recently commented on OKE shares. Morgan Stanley cut Oneok from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $48.00 to $50.00 in a research note on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG raised Oneok from a “sell” rating to a “hold” rating and increased their target price for the stock from $49.00 to $52.00 in a research note on Monday, October 10th. Royal Bank Of Canada increased their target price on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 target price (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Finally, Jefferies Group reissued a “hold” rating on shares of Oneok in a research note on Wednesday, August 3rd. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus 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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