Toroso Investments LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 24.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,392 shares of the utilities provider’s stock after acquiring an additional 4,550 shares during the quarter. Toroso Investments LLC’s holdings in ONEOK were worth $1,199,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of OKE. Acadian Asset Management LLC boosted its holdings in shares of ONEOK by 275.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 2,091 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of ONEOK by 6.6% during the 1st quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 331 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of ONEOK by 500.5% during the 1st quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after acquiring an additional 139,379 shares in the last quarter. Aviva PLC lifted its holdings in ONEOK by 20.7% during the 1st quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock worth $11,422,000 after buying an additional 27,697 shares during the period. Finally, Prudential PLC acquired a new position in ONEOK during the 1st quarter worth about $614,000. Institutional investors and hedge funds own 67.16% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on OKE shares. StockNews.com started coverage on ONEOK in a report on Thursday. They set a “hold” rating on the stock. Morgan Stanley lifted their target price on ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Mizuho lifted their target price on ONEOK from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. JPMorgan Chase & Co. lifted their target price on ONEOK from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, March 9th. Finally, Scotiabank initiated coverage on ONEOK in a report on Thursday, March 2nd. They set a “sector perform” rating and a $74.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.44.
ONEOK Stock Performance
ONEOK (NYSE:OKE – Get Rating) last issued its earnings results on Monday, February 27th. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. ONEOK had a return on equity of 27.65% and a net margin of 7.69%. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. On average, research analysts anticipate that ONEOK, Inc. will post 5.28 earnings per share for the current fiscal year.
ONEOK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, January 30th were given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 6.42%. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date was Friday, January 27th. ONEOK’s payout ratio is presently 99.74%.
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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