Payden & Rygel acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 206,799 shares of the utilities provider’s stock, valued at approximately $11,459,000. Payden & Rygel owned about 0.05% of ONEOK as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Harvest Fund Advisors LLC bought a new stake in ONEOK during the 3rd quarter valued at approximately $414,256,000. Kayne Anderson Capital Advisors LP boosted its stake in ONEOK by 184.7% during 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 purchasing an additional 6,148,494 shares during the period. State Street Corp boosted its stake in ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares during the period. BlackRock Inc. boosted its stake in ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after purchasing an additional 5,317,251 shares during the period. Finally, Vanguard Group Inc. boosted its stake in ONEOK by 17.3% during 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 purchasing an additional 4,002,795 shares during the period. 71.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of ONEOK, Inc. (OKE) traded down $0.54 during mid-day trading on Thursday, hitting $51.80. The company’s stock had a trading volume of 1,733,400 shares, compared to its average volume of 3,231,991. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41. ONEOK, Inc. has a 52 week low of $47.14 and a 52 week high of $59.47. The company has a market cap of $20,069.08, a P/E ratio of 32.71, a P/E/G ratio of 3.36 and a beta of 1.26.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were given a dividend of $0.745 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.75%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
Several analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $55.00 target price on shares of ONEOK in a research note on Friday, November 3rd. UBS increased their target price on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. BMO Capital Markets set a $62.00 price objective on ONEOK and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Mizuho assumed coverage on ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.07.
In related news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
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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