LPL Financial LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

LPL Financial LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 369,042 shares of the utilities provider’s stock after acquiring an additional 24,528 shares during the period. LPL Financial LLC owned approximately 0.08% of ONEOK worth $9,588,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of ONEOK by 1.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,375 shares of the utilities provider’s stock valued at $685,000 after acquiring an additional 376 shares during the period. New Mexico Educational Retirement Board grew its position in shares of ONEOK by 1.4% during the 3rd quarter. New Mexico Educational Retirement Board now owns 28,210 shares of the utilities provider’s stock valued at $733,000 after acquiring an additional 400 shares during the period. Sun Life Financial INC grew its position in shares of ONEOK by 4.5% during the 2nd quarter. Sun Life Financial INC now owns 11,038 shares of the utilities provider’s stock valued at $367,000 after acquiring an additional 475 shares during the period. American International Group Inc. grew its position in shares of ONEOK by 0.3% during the 2nd quarter. American International Group Inc. now owns 182,981 shares of the utilities provider’s stock valued at $6,079,000 after acquiring an additional 477 shares during the period. Finally, Private Capital Group LLC grew its position in shares of ONEOK by 59.3% during the 2nd quarter. Private Capital Group LLC now owns 1,333 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Shares of OKE stock opened at $32.96 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. The firm has a fifty day moving average price of $29.43 and a 200 day moving average price of $30.50. The company has a market cap of $14.65 billion, a P/E ratio of 22.73, a PEG ratio of 1.81 and a beta of 2.02. ONEOK, Inc. has a 12 month low of $12.16 and a 12 month high of $78.48.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 27th. The utilities provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. ONEOK had a net margin of 7.24% and a return on equity of 18.38%. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 2.53 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Monday, November 2nd were paid a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, October 30th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 11.35%. ONEOK’s payout ratio is currently 121.82%.

Several research firms recently issued reports on OKE. ValuEngine cut ONEOK from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Wells Fargo & Company upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $34.00 to $36.00 in a report on Monday, October 5th. Morgan Stanley lowered their price objective on ONEOK from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Bank of America cut ONEOK from a “neutral” rating to an “underperform” rating in a report on Wednesday. Finally, Seaport Global Securities upgraded ONEOK from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Friday, August 28th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.26.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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