Oppenheimer & Co. Inc. Purchases 2,038 Shares of ONEOK, Inc. (OKE)
Oppenheimer & Co. Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 2.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 93,452 shares of the utilities provider’s stock after buying an additional 2,038 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ONEOK were worth $6,527,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in ONEOK by 28.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock valued at $207,436,000 after acquiring an additional 671,577 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 6.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock valued at $997,880,000 after acquiring an additional 877,072 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ONEOK by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock valued at $451,167,000 after acquiring an additional 31,370 shares during the last quarter. FMR LLC grew its stake in ONEOK by 42.3% in the 3rd quarter. FMR LLC now owns 209,634 shares of the utilities provider’s stock valued at $14,211,000 after acquiring an additional 62,346 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in ONEOK in the 3rd quarter valued at about $301,000. 75.54% of the stock is currently owned by institutional investors.
Shares of OKE stock traded up $0.16 during trading hours on Wednesday, hitting $70.03. 1,630,298 shares of the company were exchanged, compared to its average volume of 2,640,494. The firm has a market cap of $28.86 billion, a P/E ratio of 25.19, a PEG ratio of 2.00 and a beta of 1.23. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $71.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.66 and a quick ratio of 0.46.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th will be given a $0.865 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, April 26th. This represents a $3.46 annualized dividend and a yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is 123.74%.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $1,037,028. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.
OKE has been the topic of a number of research reports. Evercore ISI initiated coverage on shares of ONEOK in a research note on Tuesday, February 5th. They issued a $68.00 price objective on the stock. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, March 19th. US Capital Advisors reissued a “buy” rating on shares of ONEOK in a research note on Wednesday, January 16th. SunTrust Banks initiated coverage on shares of ONEOK in a research note on Friday, January 18th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Jefferies Financial Group cut shares of ONEOK from a “buy” rating to a “hold” rating and increased their price objective for the company from $72.00 to $74.00 in a research note on Monday, April 1st. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.28.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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