LPL Financial LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 6.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,367,411 shares of the utilities provider’s stock after acquiring an additional 80,418 shares during the quarter. LPL Financial LLC’s holdings in ONEOK were worth $135,675,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Waddell & Associates LLC acquired a new position in ONEOK during the 1st quarter worth $226,000. Inspire Advisors LLC raised its stake in shares of ONEOK by 25.9% in the 1st quarter. Inspire Advisors LLC now owns 28,564 shares of the utilities provider’s stock worth $2,834,000 after buying an additional 5,883 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ONEOK by 16.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 295,207 shares of the utilities provider’s stock worth $29,290,000 after buying an additional 42,263 shares in the last quarter. Empirical Finance LLC raised its stake in shares of ONEOK by 4.0% in the 1st quarter. Empirical Finance LLC now owns 11,380 shares of the utilities provider’s stock worth $1,129,000 after buying an additional 442 shares in the last quarter. Finally, Bearing Point Capital LLC raised its stake in shares of ONEOK by 29.6% in the 1st quarter. Bearing Point Capital LLC now owns 8,626 shares of the utilities provider’s stock worth $856,000 after buying an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
OKE has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective on ONEOK from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 22nd. Finally, TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.86.
ONEOK Trading Up 0.4%
Shares of NYSE OKE opened at $81.84 on Tuesday. ONEOK, Inc. has a 12 month low of $75.47 and a 12 month high of $118.07. The company has a market cap of $51.52 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $81.44 and a 200-day simple moving average of $89.19.
ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the previous year, the firm posted $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.
ONEOK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, August 1st. ONEOK’s dividend payout ratio is currently 80.47%.
ONEOK 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.
Further Reading
- Five stocks we like better than ONEOK
- There Are Different Types of Stock To Invest In
- Why the American Eagle Stock Rally Isn’t Just Speculation
- What is a SEC Filing?
- D-Wave, SuperQ, and Verge: A New Path Forward for Quantum?
- What is the NASDAQ Stock Exchange?
- 4 Stocks Planning to Substantially Boost Buybacks After Solid Q2
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Free Report).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.