Orion Portfolio Solutions LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,121 shares of the utilities provider’s stock after purchasing an additional 706 shares during the period. Orion Portfolio Solutions LLC’s holdings in ONEOK were worth $645,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in ONEOK by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 3,799,384 shares of the utilities provider’s stock valued at $211,398,000 after acquiring an additional 139,084 shares during the period. Redwood Investment Management LLC increased its position in shares of ONEOK by 10.1% during the second quarter. Redwood Investment Management LLC now owns 22,830 shares of the utilities provider’s stock worth $1,171,000 after buying an additional 2,087 shares during the period. Investment Advisory Services Inc. TX ADV acquired a new stake in shares of ONEOK during the third quarter worth $238,000. National Pension Service grew its holdings in ONEOK by 0.4% in the second quarter. National Pension Service now owns 623,143 shares of the utilities provider’s stock worth $34,672,000 after purchasing an additional 2,685 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in ONEOK by 14.4% in the third quarter. Nisa Investment Advisors LLC now owns 323,957 shares of the utilities provider’s stock worth $18,786,000 after purchasing an additional 40,792 shares during the period. Hedge funds and other institutional investors own 63.78% of the company’s stock.
OKE has been the subject of a number of research reports. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $72.00 to $66.00 in a report on Thursday, December 16th. They noted that the move was a valuation call. Mizuho lifted their target price on shares of ONEOK from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 27th. Royal Bank of Canada boosted their price objective on shares of ONEOK from $60.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, November 15th. The Goldman Sachs Group upgraded shares of ONEOK from a “sell” rating to a “neutral” rating and lifted their target price for the company from $58.00 to $68.00 in a research report on Thursday. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price target on shares of ONEOK from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, November 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average target price of $63.45.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, November 2nd. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.05. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $5.32 billion. ONEOK had a return on equity of 23.92% and a net margin of 10.43%. During the same quarter last year, the business posted $0.70 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 3.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, November 1st were given a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Friday, October 29th. ONEOK’s dividend payout ratio is currently 116.88%.
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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