Great Lakes Advisors LLC Invests $5,436,000 in Oneok Inc. (OKE)
Great Lakes Advisors LLC purchased a new position in shares of Oneok Inc. (NYSE:OKE) during the third quarter, according to its most recent disclosure with the SEC. The fund purchased 105,785 shares of the company’s stock, valued at approximately $5,436,000.
A number of other large investors have also recently bought and sold shares of OKE. Bank of Montreal Can purchased a new stake in Oneok during the second quarter worth about $14,794,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Oneok by 0.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 590,782 shares of the company’s stock worth $28,033,000 after buying an additional 5,031 shares during the period. BNP Paribas Arbitrage SA increased its stake in Oneok by 87.1% in the third quarter. BNP Paribas Arbitrage SA now owns 66,373 shares of the company’s stock worth $3,411,000 after buying an additional 30,897 shares during the period. Commerce Bank increased its stake in Oneok by 6.2% in the third quarter. Commerce Bank now owns 34,051 shares of the company’s stock worth $1,750,000 after buying an additional 2,000 shares during the period. Finally, Pitcairn Co. purchased a new stake in Oneok during the second quarter worth about $571,000. 71.32% of the stock is owned by hedge funds and other institutional investors.
Oneok Inc. (NYSE:OKE) traded up 4.75% on Wednesday, hitting $54.93. The company had a trading volume of 2,967,445 shares. The firm’s 50 day moving average price is $49.79 and its 200 day moving average price is $47.30. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $55.75. The stock has a market cap of $11.56 billion, a P/E ratio of 40.57 and a beta of 1.06.
Oneok (NYSE:OKE) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Oneok had a return on equity of 9.99% and a net margin of 3.50%. During the same period in the previous year, the business earned $0.39 EPS. Equities analysts predict that Oneok Inc. will post $1.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a dividend of $0.615 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $2.46 annualized dividend and a dividend yield of 4.48%. Oneok’s dividend payout ratio is 182.22%.
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OKE has been the subject of a number of research reports. Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $48.00 to $50.00 in a research report on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG raised Oneok from a “sell” rating to a “hold” rating and boosted their price target for the company from $49.00 to $52.00 in a research report on Monday, October 10th. Royal Bank Of Canada boosted their price target on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price target (up previously from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Finally, Jefferies Group reissued a “hold” rating on shares of Oneok in a research report on Wednesday, August 3rd. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $41.00.
Oneok Company Profile
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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