Dimensional Fund Advisors LP Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Dimensional Fund Advisors LP grew its position in ONEOK, Inc. (NYSE:OKE) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,340,155 shares of the utilities provider’s stock after acquiring an additional 132,326 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ONEOK were worth $272,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of ONEOK in the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK in the first quarter valued at $26,000. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK in the second quarter valued at $31,000. Finally, American National Bank purchased a new stake in shares of ONEOK in the first quarter valued at $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKE. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $111.00 in a report on Monday. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.38.

ONEOK Stock Performance

OKE stock opened at $94.66 on Wednesday. The firm has a market cap of $55.29 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 4.49 and a beta of 1.67. The firm has a 50-day simple moving average of $86.60 and a two-hundred day simple moving average of $82.14. ONEOK, Inc. has a one year low of $60.58 and a one year high of $94.95. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

ONEOK Company Profile

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.