Dearborn Partners LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 407,823 shares of the utilities provider’s stock, valued at approximately $22,597,000. ONEOK accounts for 1.7% of Dearborn Partners LLC’s holdings, making the stock its 21st largest holding. Dearborn Partners LLC owned about 0.11% of ONEOK at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of ONEOK by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock valued at $47,603,000 after purchasing an additional 13,443 shares during the period. Cipher Capital LP boosted its holdings in shares of ONEOK by 166.9% in the second quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock valued at $2,938,000 after purchasing an additional 35,228 shares during the period. Starr International Co. Inc. purchased a new stake in shares of ONEOK in the third quarter valued at approximately $8,089,000. Crawford Investment Counsel Inc. boosted its holdings in shares of ONEOK by 61.2% in the second quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock valued at $2,120,000 after purchasing an additional 15,427 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of ONEOK by 42.7% in the second quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after purchasing an additional 302,407 shares during the period. Institutional investors and hedge funds own 71.02% of the company’s stock.
A number of analysts recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $55.00 price target on shares of ONEOK in a report on Friday, November 3rd. UBS boosted their price objective on shares of ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. BMO Capital Markets set a $62.00 price objective on shares of ONEOK and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Mizuho began coverage on shares of ONEOK in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $59.07.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the previous year, the company posted $0.43 earnings per share. sell-side analysts forecast that ONEOK, Inc. will post 1.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is presently 186.25%.
In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of ONEOK stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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