Mediolanum International Funds Ltd Purchases 992 Shares of ONEOK, Inc. (NYSE:OKE)

Mediolanum International Funds Ltd boosted its position in ONEOK, Inc. (NYSE:OKE) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,450 shares of the utilities provider’s stock after acquiring an additional 992 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ONEOK were worth $1,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew its stake in shares of ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares during the last quarter. Energy Income Partners LLC grew its stake in shares of ONEOK by 10.3% during the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after buying an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

OKE stock opened at $96.66 on Monday. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67. 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 company’s fifty day simple moving average is $92.85 and its 200 day simple moving average is $85.33.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. On average, analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 4.10%. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Citigroup boosted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

Insider Activity

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

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.