Fmr LLC Purchases 122,362 Shares of ONEOK, Inc. (NYSE:OKE)

Fmr LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,171,917 shares of the utilities provider’s stock after acquiring an additional 122,362 shares during the quarter. Fmr LLC owned approximately 0.20% of ONEOK worth $106,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co purchased a new stake in ONEOK during the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new stake in ONEOK during the 2nd quarter valued at $31,000. Access Investment Management LLC purchased a new stake in ONEOK during the 3rd quarter valued at $37,000. Finally, Values First Advisors Inc. purchased a new stake in ONEOK during the 3rd quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the topic of several recent research reports. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays increased their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $108.74 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50 day moving average price is $101.64 and its 200-day moving average price is $90.65. The firm has a market capitalization of $63.52 billion, a PE ratio of 22.75, a P/E/G ratio of 5.59 and a beta of 1.69. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the firm earned $0.99 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.64%. ONEOK’s dividend payout ratio is currently 82.85%.

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.