BB&T Corp grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 21.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,379 shares of the utilities provider’s stock after purchasing an additional 4,000 shares during the quarter. BB&T Corp’s holdings in ONEOK were worth $1,240,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of OKE. FMR LLC lifted its stake in shares of ONEOK by 11.3% during the 1st quarter. FMR LLC now owns 116,387 shares of the utilities provider’s stock worth $6,452,000 after purchasing an additional 11,822 shares during the period. Teachers Advisors LLC raised its position in shares of ONEOK by 3.4% in the 1st quarter. Teachers Advisors LLC now owns 301,399 shares of the utilities provider’s stock worth $16,710,000 after buying an additional 9,820 shares during the period. Thrivent Financial For Lutherans raised its position in shares of ONEOK by 4.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 8,060 shares of the utilities provider’s stock worth $447,000 after buying an additional 330 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ONEOK by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,251 shares of the utilities provider’s stock worth $49,850,000 after buying an additional 16,026 shares during the period. Finally, Bank of America Corp DE raised its position in shares of ONEOK by 90.0% in the 1st quarter. Bank of America Corp DE now owns 299,045 shares of the utilities provider’s stock worth $16,579,000 after buying an additional 141,615 shares during the period. 51.78% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on OKE shares. BMO Capital Markets raised ONEOK from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $59.00 in a research report on Wednesday, July 5th. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 5th. Zacks Investment Research raised ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. Credit Suisse Group cut their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Finally, BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $58.86.
Shares of ONEOK, Inc. (NYSE OKE) opened at 54.04 on Tuesday. The company has a 50-day moving average price of $55.72 and a 200 day moving average price of $53.13. The firm has a market capitalization of $20.54 billion, a P/E ratio of 33.86 and a beta of 1.30. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.12). ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm posted $0.40 EPS. Analysts expect that ONEOK, Inc. will post $1.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, November 3rd. ONEOK’s payout ratio is presently 186.25%.
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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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