3,940 Shares in ONEOK, Inc. (OKE) Purchased by Cypress Capital Group
Cypress Capital Group bought a new stake in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,940 shares of the utilities provider’s stock, valued at approximately $218,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in ONEOK by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after acquiring an additional 4,002,795 shares during the last quarter. BlackRock Inc. lifted its holdings in ONEOK by 28.4% in the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after acquiring an additional 5,317,251 shares during the last quarter. State Street Corp lifted its holdings in ONEOK by 53.7% in the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after acquiring an additional 6,086,061 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in ONEOK by 184.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after acquiring an additional 6,148,494 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in ONEOK by 3.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after acquiring an additional 300,031 shares during the last quarter. Hedge funds and other institutional investors own 71.02% of the company’s stock.
A number of brokerages have weighed in on OKE. BidaskClub raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price target on shares of ONEOK in a report on Monday, September 11th. Zacks Investment Research downgraded shares of ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday. Argus reissued a “buy” rating and issued a $59.00 price target (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $54.00 price target on shares of ONEOK in a report on Thursday, October 12th. One equities 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. ONEOK presently has a consensus rating of “Hold” and an average price target of $59.07.
In other news, Director Brian L. Derksen acquired 1,800 shares of ONEOK stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.
ONEOK, Inc. (NYSE:OKE) traded down $0.18 during mid-day trading on Thursday, reaching $53.22. 1,861,700 shares of the company’s stock were exchanged, compared to its average volume of 3,211,826. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. ONEOK, Inc. has a 52 week low of $47.14 and a 52 week high of $59.47. The stock has a market capitalization of $20,475.52, a price-to-earnings ratio of 33.38, a PEG ratio of 3.42 and a beta of 1.26.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 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 firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.43 earnings per share. analysts forecast that ONEOK, Inc. will post 1.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date was Friday, November 3rd. ONEOK’s dividend payout ratio is presently 186.25%.
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ONEOK Company Profile
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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