Principal Financial Group Inc. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 710,314 shares of the utilities provider's stock after purchasing an additional 24,193 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of ONEOK worth $64,731,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Quest Partners LLC acquired a new stake in shares of ONEOK in the second quarter worth $28,000. Matrix Trust Co bought a new stake in ONEOK in the 3rd quarter valued at $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK in the 2nd quarter worth $31,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK during the third quarter valued at about $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.
NYSE OKE opened at $100.08 on Friday. The stock's 50 day simple moving average is $104.05 and its 200 day simple moving average is $92.55. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The firm has a market cap of $58.47 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 5.24 and a beta of 1.69.
ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during 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 quarter last year, the business posted $0.99 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.96%. ONEOK's dividend payout ratio (DPR) is currently 82.85%.
Several brokerages recently issued reports on OKE. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research note on Friday, August 30th. Citigroup boosted their price objective on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. Morgan Stanley upgraded shares of ONEOK from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Mizuho upgraded shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average target price of $101.00.
View Our Latest Analysis on ONEOK
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider ONEOK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ONEOK wasn't on the list.
While ONEOK currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.