ONEOK, Inc. (OKE) Director Purchases $91,800.00 in Stock
ONEOK, Inc. (NYSE:OKE) Director Brian L. Derksen acquired 1,800 shares of the company’s stock in a transaction on Monday, November 20th. The shares were purchased at an average cost of $51.00 per share, with a total value of $91,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
ONEOK, Inc. (NYSE:OKE) traded up $0.16 during trading on Monday, hitting $50.83. The stock had a trading volume of 1,964,252 shares, compared to its average volume of 3,268,428. The firm has a market cap of $19,430.00, a price-to-earnings ratio of 31.67, a P/E/G ratio of 3.66 and a beta of 1.30. ONEOK, Inc. has a 52 week low of $47.14 and a 52 week high of $59.47. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. equities research analysts expect that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a dividend of $0.745 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.86%. ONEOK’s payout ratio is currently 186.25%.
Several institutional investors and hedge funds have recently modified their holdings of OKE. Tortoise Capital Advisors L.L.C. grew its position in shares of ONEOK by 269.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after purchasing an additional 9,737,701 shares during the period. Harvest Fund Advisors LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $414,256,000. Kayne Anderson Capital Advisors LP grew its position in shares of ONEOK by 184.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after purchasing an additional 6,148,494 shares during the period. State Street Corp grew its position in shares of ONEOK by 53.7% in the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares during the period. Finally, BlackRock Inc. grew its position in shares of ONEOK by 28.4% in the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after purchasing an additional 5,317,251 shares during the period. Institutional investors and hedge funds own 57.79% of the company’s stock.
Several analysts have weighed in on the company. Stifel Nicolaus reissued a “hold” rating and set a $55.00 price objective on shares of ONEOK in a report on Friday, November 3rd. UBS AG boosted their price objective on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research cut ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. BMO Capital Markets set a $62.00 price objective on ONEOK and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, Mizuho assumed coverage on ONEOK in a report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.07.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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