Profund Advisors LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

Profund Advisors LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,324 shares of the utilities provider’s stock after buying an additional 2,687 shares during the quarter. Profund Advisors LLC’s holdings in ONEOK were worth $2,554,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Corient Private Wealth LLC boosted its position in shares of ONEOK by 28.8% during the 4th quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock valued at $11,154,000 after acquiring an additional 35,518 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in ONEOK by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock valued at $10,001,000 after buying an additional 5,867 shares during the last quarter. Congress Wealth Management LLC DE lifted its position in ONEOK by 28.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 16,118 shares of the utilities provider’s stock valued at $1,132,000 after buying an additional 3,581 shares during the last quarter. Skopos Labs Inc. acquired a new position in ONEOK in the fourth quarter valued at about $300,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in ONEOK by 6.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 161,908 shares of the utilities provider’s stock valued at $11,369,000 after buying an additional 9,713 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $93.97 on Monday. The firm has a market capitalization of $54.89 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.64 and a beta of 1.67. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $95.28. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $87.24 and its two-hundred day moving average is $82.49.

ONEOK (NYSE:OKE) last announced 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 company had revenue of $4.89 billion for 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. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Ratings Changes

A number of research firms have commented on OKE. Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Barclays upped their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $92.38.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK 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.