Point72 Europe London LLP Buys New Stake in ONEOK, Inc. (NYSE:OKE)

Point72 Europe London LLP purchased a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 184,037 shares of the utilities provider’s stock, valued at approximately $15,008,000. ONEOK accounts for approximately 1.2% of Point72 Europe London LLP’s holdings, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Rise Advisors LLC purchased a new stake in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the 1st quarter worth approximately $26,000. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the second quarter valued at $31,000. Finally, American National Bank bought a new stake in ONEOK in the first quarter worth $32,000. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have commented on OKE shares. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Royal Bank of Canada lifted their price target on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Mizuho upped their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.38.

ONEOK Stock Down 0.0 %

NYSE:OKE opened at $95.24 on Wednesday. The stock has a fifty day simple moving average of $87.65 and a 200-day simple moving average of $82.74. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a market cap of $55.63 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $96.05.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.04 EPS. Analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.