Commerzbank Aktiengesellschaft FI Purchases 5,005 Shares of ONEOK, Inc. (NYSE:OKE)

Commerzbank Aktiengesellschaft FI grew its position in ONEOK, Inc. (NYSE:OKE) by 48.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,426 shares of the utilities provider’s stock after acquiring an additional 5,005 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ONEOK were worth $1,406,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OKE. M&G Plc bought a new stake in shares of ONEOK in the 1st quarter worth approximately $77,634,000. Kayne Anderson Capital Advisors LP lifted its position in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after buying an additional 501,216 shares during the period. Cetera Investment Advisers lifted its position in shares of ONEOK by 370.1% during the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after buying an additional 484,403 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after buying an additional 392,644 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OKE shares. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insiders Place Their Bets

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

ONEOK Stock Down 0.6 %

Shares of ONEOK stock opened at $96.77 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43. The business has a fifty day simple moving average of $92.46 and a 200 day simple moving average of $85.04. The stock has a market cap of $56.52 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the company posted $1.04 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.06 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.09%. ONEOK’s dividend payout ratio is presently 86.27%.

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.