Bank of New York Mellon Corp Purchases 21,732 Shares of ONEOK, Inc. $OKE

Bank of New York Mellon Corp lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,862,530 shares of the utilities provider’s stock after acquiring an additional 21,732 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of ONEOK worth $354,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of ONEOK in the second quarter worth about $562,832,000. First Eagle Investment Management LLC boosted its holdings in ONEOK by 130.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after buying an additional 3,545,256 shares during the period. Boston Partners grew its stake in ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after buying an additional 1,924,864 shares in the last quarter. Vanguard Group Inc. raised its holdings in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares during the period. Finally, Man Group plc lifted its position in shares of ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. Scotiabank reiterated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Wells Fargo & Company decreased their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. Finally, Citigroup reduced their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.31.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

ONEOK Trading Down 1.0%

Shares of OKE opened at $78.48 on Friday. The firm’s 50 day simple moving average is $73.83 and its 200 day simple moving average is $73.47. The company has a market capitalization of $49.38 billion, a P/E ratio of 14.43, a P/E/G ratio of 4.53 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company earned $1.18 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is currently 75.74%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.