OLD National Bancorp IN Purchases 200 Shares of ONEOK, Inc. (NYSE:OKE)

OLD National Bancorp IN grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,917 shares of the utilities provider’s stock after acquiring an additional 200 shares during the period. OLD National Bancorp IN’s holdings in ONEOK were worth $357,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. M&G Plc purchased a new position in shares of ONEOK during the first quarter worth approximately $77,634,000. Kayne Anderson Capital Advisors LP boosted its position in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares during the period. Bahl & Gaynor Inc. grew its stake in shares of ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after buying an additional 484,403 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of ONEOK by 3,137.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 392,644 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank increased their target price 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. Barclays lifted their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped 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. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Trading Up 0.6 %

NYSE:OKE opened at $97.39 on Wednesday. The stock has a market cap of $56.88 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 4.20 and a beta of 1.67. 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 company’s 50 day moving average price is $92.25 and its 200-day moving average price is $84.96. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.07%. ONEOK’s payout ratio is 86.27%.

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.