ONEOK, Inc. (OKE) Position Lifted by State of Wisconsin Investment Board
State of Wisconsin Investment Board boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6,897.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,788 shares of the utilities provider’s stock after buying an additional 304,375 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of ONEOK worth $17,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in ONEOK by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock valued at $47,603,000 after buying an additional 13,443 shares in the last quarter. Cipher Capital LP grew its stake in ONEOK by 166.9% during the 2nd quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock valued at $2,938,000 after purchasing an additional 35,228 shares during the last quarter. Crawford Investment Counsel Inc. grew its stake in ONEOK by 61.2% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock valued at $2,120,000 after purchasing an additional 15,427 shares during the last quarter. Wells Fargo & Company MN grew its stake in ONEOK by 42.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after purchasing an additional 302,407 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in ONEOK during the 2nd quarter valued at about $2,358,000. 53.22% of the stock is currently owned by institutional investors.
ONEOK, Inc. (NYSE OKE) opened at $52.40 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK, Inc. has a 12-month low of $46.82 and a 12-month high of $59.47. The stock has a market capitalization of $20,092.08, a P/E ratio of 32.75, a P/E/G ratio of 3.79 and a beta of 1.29.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter last year, the firm posted $0.43 earnings per share. analysts predict that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.745 per share. The ex-dividend date is Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.69%. ONEOK’s payout ratio is 186.25%.
A number of analysts have recently commented on the company. BMO Capital Markets set a $62.00 target price on ONEOK and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Argus reissued a “buy” rating and set a $59.00 target price (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG increased their price target on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays PLC initiated coverage on ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.07.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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