Boston Private Wealth LLC Buys New Position in ONEOK, Inc. (NYSE:OKE)

Boston Private Wealth 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 SEC. The institutional investor bought 3,502 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in ONEOK by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 50,223,428 shares of the utilities provider’s stock valued at $2,794,431,000 after purchasing an additional 286,257 shares during the period. BlackRock Inc. boosted its stake in ONEOK by 4.2% during the 2nd quarter. BlackRock Inc. now owns 43,059,696 shares of the utilities provider’s stock valued at $2,395,843,000 after purchasing an additional 1,740,062 shares during the period. State Street Corp boosted its stake in ONEOK by 4.4% during the 2nd quarter. State Street Corp now owns 30,046,088 shares of the utilities provider’s stock valued at $1,671,764,000 after purchasing an additional 1,273,169 shares during the period. Geode Capital Management LLC boosted its stake in ONEOK by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 7,999,620 shares of the utilities provider’s stock valued at $443,883,000 after purchasing an additional 267,667 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 11.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,996,966 shares of the utilities provider’s stock valued at $333,672,000 after purchasing an additional 616,082 shares during the period. Hedge funds and other institutional investors own 63.78% of the company’s stock.

A number of analysts have commented on OKE shares. Bank of America started coverage on ONEOK in a research report on Tuesday, September 28th. They issued a “neutral” rating for the company. Mizuho raised their price objective on ONEOK from $53.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 27th. Citigroup raised their price objective on ONEOK from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, January 6th. Morgan Stanley raised their price objective on ONEOK from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 23rd. Finally, Raymond James raised their price objective on ONEOK from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.45.

OKE opened at $62.61 on Friday. The firm’s 50-day simple moving average is $61.15 and its 200-day simple moving average is $58.12. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.67 and a current ratio of 0.95. ONEOK, Inc. has a twelve month low of $38.90 and a twelve month high of $66.78. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.11 and a beta of 1.91.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, November 2nd. The utilities provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.05. ONEOK had a net margin of 10.43% and a return on equity of 23.92%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 3.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Monday, November 1st were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, October 29th. This represents a $3.74 annualized dividend and a yield of 5.97%. ONEOK’s dividend payout ratio (DPR) is 116.88%.

ONEOK Company Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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