ONEOK, Inc. (NYSE:OKE) Shares Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its position in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,831 shares of the utilities provider’s stock after acquiring an additional 1,154 shares during the period. Beacon Pointe Advisors LLC’s holdings in ONEOK were worth $1,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ONEOK by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after purchasing an additional 1,043,147 shares during the period. State Street Corp boosted its position in shares of ONEOK by 4.8% in the 1st quarter. State Street Corp now owns 32,825,649 shares of the utilities provider’s stock valued at $2,318,476,000 after purchasing an additional 1,493,647 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock valued at $514,810,000 after purchasing an additional 527,138 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ONEOK by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,539,398 shares of the utilities provider’s stock valued at $461,877,000 after purchasing an additional 302,211 shares during the period. Finally, Cowa LLC boosted its position in shares of ONEOK by 9,775.0% in the 1st quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after purchasing an additional 5,270,510 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.3 %

Shares of OKE stock opened at $65.62 on Thursday. The stock’s 50 day simple moving average is $58.22 and its 200 day simple moving average is $60.00. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.50 and a current ratio of 0.67. ONEOK, Inc. has a twelve month low of $50.50 and a twelve month high of $75.07. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.01 and a beta of 1.71.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Tuesday, November 1st were given a $0.935 dividend. This represents a $3.74 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Monday, October 31st. ONEOK’s dividend payout ratio is currently 103.89%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Barclays decreased their price target on ONEOK from $62.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Morgan Stanley decreased their price objective on ONEOK from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. StockNews.com began coverage on ONEOK in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James decreased their price objective on ONEOK from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Finally, Mizuho raised their price objective on ONEOK from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.09.

ONEOK Company Profile

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ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

Further Reading

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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