First Mercantile Trust Co. Raises Stock Position in ONEOK, Inc. (NYSE:OKE)
First Mercantile Trust Co. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,844 shares of the utilities provider’s stock after purchasing an additional 442 shares during the period. First Mercantile Trust Co.’s holdings in ONEOK were worth $357,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OKE. Krane Funds Advisors LLC acquired a new stake in shares of ONEOK during the second quarter valued at about $27,000. JNBA Financial Advisors increased its position in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of ONEOK during the second quarter valued at about $32,000. Gradient Investments LLC increased its position in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 260 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 508 shares during the last quarter. 74.40% of the stock is currently owned by institutional investors.
Shares of OKE stock opened at $70.48 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market capitalization of $29.68 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The company has a 50 day moving average price of $71.29 and a 200 day moving average price of $69.30. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $77.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.915 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. This is a boost from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s payout ratio is 131.65%.
A number of equities research analysts have weighed in on OKE shares. Tudor Pickering started coverage on shares of ONEOK in a research report on Friday. They set a “buy” rating and a $74.00 price target for the company. Argus lifted their price target on shares of ONEOK to $82.00 and gave the company an “average” rating in a research report on Tuesday, August 6th. Barclays set a $79.00 price target on shares of ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. UBS Group dropped their price target on shares of ONEOK from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target for the company. in a research report on Wednesday, September 18th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $74.71.
ONEOK Company Profile
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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