Stephens Inc. AR Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Stephens Inc. AR boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,028 shares of the utilities provider’s stock after buying an additional 403 shares during the quarter. Stephens Inc. AR’s holdings in ONEOK were worth $3,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OKE. International Assets Investment Management LLC increased its holdings in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. M&G Plc purchased a new position in ONEOK in the first quarter valued at approximately $77,634,000. Kayne Anderson Capital Advisors LP raised its holdings in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after buying an additional 501,216 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after buying an additional 484,403 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 2.6 %

Shares of ONEOK stock opened at $93.36 on Friday. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.43. The company has a market cap of $54.54 billion, a P/E ratio of 19.53, a PEG ratio of 4.23 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.41 and a current ratio of 0.81. The firm has a fifty day moving average of $93.66 and a two-hundred day moving average of $85.88.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.04 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.24%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OKE shares. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.54.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.