Victory Capital Management Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE – Get Rating) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 783,755 shares of the utilities provider’s stock after acquiring an additional 102,165 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of ONEOK worth $40,160,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of OKE. Acadian Asset Management LLC increased its holdings in shares of ONEOK by 275.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 2,091 shares during the period. Raymond James Trust N.A. grew its position in ONEOK by 6.6% in the 1st quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after buying an additional 331 shares during the last quarter. Sei Investments Co. grew its position in ONEOK by 500.5% in the 1st quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after buying an additional 139,379 shares during the last quarter. Aviva PLC grew its position in ONEOK by 20.7% in the 1st quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after buying an additional 27,697 shares during the last quarter. Finally, Prudential PLC purchased a new position in ONEOK in the 1st quarter valued at $614,000. 67.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $75.00 in a research report on Friday, December 16th. Citigroup assumed coverage on shares of ONEOK in a research report on Thursday, December 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Morgan Stanley boosted their target price on shares of ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday, January 9th. Barclays boosted their target price on shares of ONEOK from $59.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Raymond James decreased their target price on shares of ONEOK from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.60.
ONEOK Price Performance
ONEOK (NYSE:OKE – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. ONEOK had a net margin of 7.10% and a return on equity of 26.46%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.52 billion. On average, equities research analysts predict that ONEOK, Inc. will post 3.8 EPS for the current fiscal year.
ONEOK Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 30th will be paid a $0.955 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, January 27th. This represents a $3.82 annualized dividend and a yield of 5.48%. ONEOK’s payout ratio is presently 103.89%.
ONEOK Company Profile
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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