ONEOK, Inc. (OKE) Position Trimmed by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 522,975 shares of the utilities provider’s stock after selling 199,950 shares during the period. Prudential Financial Inc. owned about 0.14% of ONEOK worth $28,978,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in ONEOK by 11.3% during the 1st quarter. FMR LLC now owns 116,387 shares of the utilities provider’s stock valued at $6,452,000 after buying an additional 11,822 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in ONEOK by 4.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 8,060 shares of the utilities provider’s stock valued at $447,000 after buying an additional 330 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in ONEOK during the 1st quarter valued at $280,000. Xact Kapitalforvaltning AB raised its stake in ONEOK by 9.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,981 shares of the utilities provider’s stock valued at $990,000 after buying an additional 1,615 shares during the last quarter. Finally, National Pension Service raised its stake in ONEOK by 10.2% during the 2nd quarter. National Pension Service now owns 231,274 shares of the utilities provider’s stock valued at $11,915,000 after buying an additional 21,464 shares during the last quarter. Institutional investors own 53.22% of the company’s stock.
Several equities research analysts have recently commented on OKE shares. upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Credit Suisse Group reduced their price objective on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. J P Morgan Chase & Co restated a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a research note on Monday, September 11th. restated a “buy” rating and issued a $59.00 price objective (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Finally, restated a “hold” rating and issued a $54.00 price objective on shares of ONEOK in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus target price of $59.07.
Shares of ONEOK, Inc. (NYSE OKE) opened at $51.38 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $20,019.23, a PE ratio of 32.63, a PEG ratio of 3.77 and a beta of 1.29. ONEOK, Inc. has a 1 year low of $47.14 and a 1 year high of $59.47.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. sell-side analysts anticipate that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 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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