Oppenheimer & Co. Inc. Purchases 28,207 Shares of Oneok Inc. (OKE)
Oppenheimer & Co. Inc. increased its position in Oneok Inc. (NYSE:OKE) by 49.2% during the third quarter, Holdings Channel reports. The institutional investor owned 85,550 shares of the company’s stock after buying an additional 28,207 shares during the period. Oppenheimer & Co. Inc.’s holdings in Oneok were worth $4,396,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Washington Trust Bank raised its stake in shares of Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Oneok during the second quarter valued at about $123,000. Baker Ellis Asset Management LLC purchased a new position in Oneok during the second quarter valued at about $133,000. WFG Advisors LP increased its position in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock valued at $140,000 after buying an additional 88 shares during the last quarter. Finally, Euclid Advisors LLC purchased a new position in Oneok during the second quarter valued at about $149,000. Institutional investors own 71.32% of the company’s stock.
Oneok Inc. (NYSE:OKE) traded down 0.72% on Tuesday, reaching $52.44. 2,107,018 shares of the company’s stock were exchanged. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $54.50. The company has a market cap of $11.04 billion, a P/E ratio of 38.73 and a beta of 1.06. The firm has a 50 day moving average of $49.79 and a 200-day moving average of $47.30.
Oneok (NYSE:OKE) last announced its earnings results on Tuesday, November 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. Oneok had a net margin of 3.50% and a return on equity of 9.99%. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities analysts expect that Oneok Inc. will post $1.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were paid a dividend of $0.615 per share. The ex-dividend date was Thursday, October 27th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.69%. Oneok’s dividend payout ratio (DPR) is 182.22%.
OKE has been the topic of several research reports. Jefferies Group reissued a “hold” rating on shares of Oneok in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Oneok from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Royal Bank Of Canada upped their target price on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 target price (up from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Finally, Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $50.00 in a research report on Tuesday, October 4th. They noted that the move was a valuation call. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.00.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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