Parkside Financial Bank & Trust lifted its position in ONEOK, Inc. (NYSE:OKE) by 88.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,816 shares of the utilities provider’s stock after acquiring an additional 4,596 shares during the quarter. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $723,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of OKE. Krane Funds Advisors LLC acquired a new position in ONEOK during the 2nd quarter valued at approximately $27,000. JNBA Financial Advisors boosted its position in ONEOK by 91.3% during the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the period. IMA Wealth Inc. acquired a new position in ONEOK during the 2nd quarter valued at approximately $32,000. Gradient Investments LLC boosted its position in ONEOK by 82.3% during the 2nd quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 260 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its position in ONEOK by 498.0% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 508 shares during the period. Institutional investors own 74.40% of the company’s stock.
Shares of OKE traded up $0.71 during midday trading on Friday, reaching $70.48. The stock had a trading volume of 1,716,742 shares, compared to its average volume of 1,912,538. ONEOK, Inc. has a 52 week low of $50.26 and a 52 week high of $77.21. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.95. The firm’s 50 day moving average price is $71.29 and its 200-day moving average price is $69.30. The company has a market capitalization of $29.68 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.915 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.66 dividend on an annualized basis and a yield of 5.19%. This is an increase from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s payout ratio is 131.65%.
OKE has been the subject of a number of analyst reports. Tudor Pickering initiated coverage on ONEOK in a research report on Friday. They set a “buy” rating and a $74.00 price objective for the company. Argus lifted their target price on ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. Barclays set a $79.00 target price on ONEOK and gave the company a “hold” rating in a research note on Tuesday, October 15th. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research note on Wednesday, September 18th. Finally, Goldman Sachs Group raised ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $73.00 to $81.00 in a research note on Sunday, November 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $74.71.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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