Oppenheimer Asset Management Inc. Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Oppenheimer Asset Management Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,361 shares of the utilities provider’s stock after purchasing an additional 2,408 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ONEOK were worth $3,131,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Envestnet Portfolio Solutions Inc. increased its holdings in shares of ONEOK by 21.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 844 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of ONEOK by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 198 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of ONEOK by 28.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after purchasing an additional 14,058 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of ONEOK by 2.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock valued at $1,216,000 after purchasing an additional 396 shares in the last quarter. Finally, Nwam LLC purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $201,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays boosted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 1.8 %

Shares of OKE stock opened at $109.81 on Friday. The company’s 50-day moving average price is $96.17 and its 200-day moving average price is $87.38. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $64.15 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $110.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm posted $0.99 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. ONEOK’s payout ratio is 82.85%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.