ONEOK, Inc. (OKE) is Trust Investment Advisors’ 10th Largest Position
Trust Investment Advisors decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,675 shares of the utilities provider’s stock after selling 3,950 shares during the period. ONEOK accounts for about 1.7% of Trust Investment Advisors’ portfolio, making the stock its 10th biggest holding. Trust Investment Advisors’ holdings in ONEOK were worth $1,478,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of ONEOK by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock worth $47,603,000 after acquiring an additional 13,443 shares during the period. Cipher Capital LP boosted its stake in shares of ONEOK by 166.9% in the second quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock worth $2,938,000 after acquiring an additional 35,228 shares during the period. Crawford Investment Counsel Inc. boosted its stake in shares of ONEOK by 61.2% in the second quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock worth $2,120,000 after acquiring an additional 15,427 shares during the period. Wells Fargo & Company MN boosted its stake in shares of ONEOK by 42.7% in the second quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock worth $52,732,000 after acquiring an additional 302,407 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of ONEOK in the second quarter worth about $2,358,000. 53.22% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on OKE shares. Stifel Nicolaus reiterated a “hold” rating and issued a $55.00 target price on shares of ONEOK in a research report on Friday, November 3rd. UBS AG boosted their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. BMO Capital Markets set a $62.00 target price on ONEOK and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Mizuho started coverage on ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.07.
Shares of ONEOK, Inc. (NYSE:OKE) traded down $0.38 during mid-day trading on Tuesday, reaching $51.83. The company’s stock had a trading volume of 755,302 shares, compared to its average volume of 3,291,912. ONEOK, Inc. has a fifty-two week low of $46.82 and a fifty-two week high of $59.47. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market capitalization of $20,092.08, a P/E ratio of 32.75, a PEG ratio of 3.79 and a beta of 1.29.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $0.43 earnings per share. equities research analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be given a dividend of $0.745 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 5.75%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
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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