Robeco Institutional Asset Management B.V. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 90.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,926 shares of the utilities provider’s stock after buying an additional 11,872 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in ONEOK were worth $1,380,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Delta Asset Management LLC TN acquired a new stake in shares of ONEOK during the second quarter worth $103,000. Ropes Wealth Advisors LLC acquired a new stake in shares of ONEOK during the second quarter worth $103,000. Smithfield Trust Co. increased its position in shares of ONEOK by 107.7% during the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,034 shares during the period. Highlander Capital Management LLC acquired a new stake in shares of ONEOK during the second quarter worth $154,000. Finally, Capstone Investment Advisors Netherlands B.V. increased its position in shares of ONEOK by 31.3% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 3,071 shares of the utilities provider’s stock worth $160,000 after buying an additional 732 shares during the period. Institutional investors own 51.78% of the company’s stock.
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ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a return on equity of 10.00% and a net margin of 3.76%. During the same quarter in the previous year, the firm earned $0.43 EPS.
The company also recently declared 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 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Friday, November 3rd. ONEOK’s payout ratio is 186.25%.
Several equities research analysts have recently weighed in on OKE shares. BMO Capital Markets upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $53.00 to $59.00 in a research report on Wednesday, July 5th. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Credit Suisse Group cut their target price on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. ONEOK has a consensus rating of “Hold” and an average target price of $59.00.
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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