Stephens Inc. AR lifted its holdings in ONEOK, Inc. (NYSE:OKE – Get Rating) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,791 shares of the utilities provider’s stock after purchasing an additional 1,303 shares during the period. Stephens Inc. AR’s holdings in ONEOK were worth $963,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in ONEOK by 2.1% in the first quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after acquiring an additional 1,043,147 shares during the period. State Street Corp lifted its holdings in ONEOK by 1.0% in the second quarter. State Street Corp now owns 33,164,685 shares of the utilities provider’s stock valued at $1,840,640,000 after buying an additional 339,036 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock valued at $514,810,000 after buying an additional 527,138 shares during the period. Cowa LLC raised its holdings in ONEOK by 9,775.0% in the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after purchasing an additional 5,270,510 shares during the period. Finally, Northern Trust Corp raised its holdings in ONEOK by 3.1% in the second quarter. Northern Trust Corp now owns 4,985,305 shares of the utilities provider’s stock worth $276,686,000 after purchasing an additional 148,165 shares during the period. Institutional investors and hedge funds own 67.16% of the company’s stock.
Wall Street Analysts Forecast Growth
OKE has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of ONEOK in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised shares of ONEOK from a “neutral” rating to an “overweight” rating and raised their price target for the company from $71.00 to $75.00 in a research report on Tuesday, January 10th. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $75.00 in a research note on Friday, December 16th. Citigroup initiated coverage on shares of ONEOK in a research note on Thursday, December 8th. They set a “neutral” rating and a $67.00 price target for the company. Finally, Raymond James decreased their price target on shares of ONEOK from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.60.
ONEOK Stock Up 0.2 %
ONEOK (NYSE:OKE – Get Rating) last announced its earnings results on Tuesday, November 1st. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.52 billion. On average, research analysts expect that ONEOK, Inc. will post 3.8 earnings per share for the current year.
ONEOK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Monday, January 30th will be given a dividend of $0.955 per share. The ex-dividend date of this dividend is Friday, January 27th. This represents a $3.82 annualized dividend and a yield of 5.48%. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. ONEOK’s dividend payout ratio (DPR) is 103.89%.
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.
- Get a free copy of the StockNews.com research report on ONEOK (OKE)
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