Oneok Inc. (OKE) Shares Gap Up to $47.95
Oneok Inc. (NYSE:OKE) gapped up prior to trading on Thursday . The stock had previously closed at $47.80, but opened at $47.95. Oneok shares last traded at $48.81, with a volume of 712,343 shares changing hands.
A number of equities research analysts have recently weighed in on the stock. Jefferies Group restated a “hold” rating on shares of Oneok in a report on Wednesday, August 3rd. Credit Suisse Group AG increased their target price on shares of Oneok from $34.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, May 5th. Goldman Sachs Group Inc. increased their target price on shares of Oneok from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, May 5th. Royal Bank Of Canada increased their target price on shares of Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Argus downgraded shares of Oneok from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Oneok has a consensus rating of “Hold” and an average price target of $37.71.
The stock has a market cap of $10.43 billion and a price-to-earnings ratio of 39.16. The firm’s 50 day moving average is $46.40 and its 200 day moving average is $36.98.
Oneok (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.03. During the same quarter in the previous year, the business earned $0.36 EPS. On average, analysts expect that Oneok Inc. will post $1.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, August 14th. Shareholders of record on Monday, August 15th were issued a dividend of $0.615 per share. The ex-dividend date was Thursday, August 4th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.96%.
Other hedge funds have modified their holdings of the company. Kayne Anderson Capital Advisors LP boosted its stake in shares of Oneok by 17.0% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,777,045 shares of the company’s stock worth $117,791,000 after buying an additional 694,396 shares during the period. Marshall Wace LLP acquired a new stake in shares of Oneok during the fourth quarter worth $5,260,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Oneok by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 939,169 shares of the company’s stock worth $23,160,000 after buying an additional 82,599 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Oneok by 21.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,900 shares of the company’s stock worth $1,970,000 after buying an additional 14,100 shares during the period.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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