Janney Montgomery Scott LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,195 shares of the utilities provider’s stock after acquiring an additional 7,324 shares during the period. Janney Montgomery Scott LLC’s holdings in ONEOK were worth $1,616,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of OKE. Man Group plc boosted its holdings in ONEOK by 123.6% in the 2nd quarter. Man Group plc now owns 23,251 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 12,853 shares during the period. IBM Retirement Fund raised its position in shares of ONEOK by 39.1% in the third quarter. IBM Retirement Fund now owns 14,257 shares of the utilities provider’s stock worth $370,000 after buying an additional 4,006 shares in the last quarter. State of Michigan Retirement System boosted its stake in ONEOK by 18.6% during the second quarter. State of Michigan Retirement System now owns 112,309 shares of the utilities provider’s stock valued at $3,731,000 after buying an additional 17,583 shares during the period. Kentucky Retirement Systems purchased a new position in ONEOK during the second quarter worth about $765,000. Finally, Orion Portfolio Solutions LLC increased its stake in ONEOK by 21.7% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 14,635 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 2,608 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Credit Suisse Group boosted their price objective on ONEOK from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Seaport Global Securities raised shares of ONEOK from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Friday, August 28th. Morgan Stanley dropped their price objective on shares of ONEOK from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Bank of America cut ONEOK from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Finally, ValuEngine lowered ONEOK from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and an average target price of $35.26.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. ONEOK had a return on equity of 18.38% and a net margin of 7.24%. During the same period in the prior year, the business earned $0.74 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 2.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Monday, November 2nd were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, October 30th. This represents a $3.74 dividend on an annualized basis and a yield of 11.35%. ONEOK’s dividend payout ratio (DPR) is currently 121.82%.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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