Jupiter Topco LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,735,988 shares of the utilities provider’s stock, valued at approximately $324,807,000. Jupiter Topco LLC owned about 0.59% of ONEOK as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT increased its stake in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC acquired a new stake in ONEOK in the 4th quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK during the 4th quarter worth $29,000. Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the first quarter valued at $33,000. Finally, Wilkerson Advisory Group LLC raised its stake in shares of ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.
ONEOK Stock Down 1.4%
NYSE OKE opened at $91.74 on Wednesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The company has a market capitalization of $57.83 billion, a P/E ratio of 15.82, a PEG ratio of 2.59 and a beta of 0.73. The company’s 50 day simple moving average is $90.31 and its 200 day simple moving average is $88.48. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.
ONEOK Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date was Monday, August 3rd. ONEOK’s payout ratio is presently 73.79%.
Analyst Upgrades and Downgrades
OKE has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays lowered their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Morgan Stanley upped their target price on ONEOK from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.
Read Our Latest Research Report on OKE
ONEOK Profile
ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.
ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.
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