JPMorgan Chase & Co. Increases Position in ONEOK, Inc. (NYSE:OKE)

JPMorgan Chase & Co. raised its holdings in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,547 shares of the utilities provider’s stock after buying an additional 64,536 shares during the period. JPMorgan Chase & Co.’s holdings in ONEOK were worth $100,597,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Mutual of America Capital Management LLC boosted its position in shares of ONEOK by 2.3% during the second quarter. Mutual of America Capital Management LLC now owns 60,892 shares of the utilities provider’s stock valued at $3,380,000 after buying an additional 1,379 shares during the period. Mackenzie Financial Corp boosted its position in shares of ONEOK by 50.4% during the second quarter. Mackenzie Financial Corp now owns 327,719 shares of the utilities provider’s stock valued at $18,188,000 after buying an additional 109,819 shares during the period. Level Financial Advisors Inc. purchased a new position in shares of ONEOK during the second quarter valued at approximately $120,000. Cerity Partners LLC boosted its holdings in shares of ONEOK by 76.7% in the second quarter. Cerity Partners LLC now owns 8,750 shares of the utilities provider’s stock valued at $486,000 after purchasing an additional 3,797 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of ONEOK by 5.3% in the second quarter. Inspire Investing LLC now owns 6,812 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKE shares. Mizuho boosted their price target on ONEOK from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. StockNews.com started coverage on ONEOK in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on ONEOK from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Raymond James lowered their price target on ONEOK from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Finally, Barclays lowered their price target on ONEOK from $62.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.09.

ONEOK Stock Up 3.5 %

ONEOK stock opened at $65.42 on Wednesday. The business has a fifty day moving average of $58.22 and a two-hundred day moving average of $60.00. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.89. The firm has a market cap of $29.24 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.95 and a beta of 1.71. ONEOK, Inc. has a twelve month low of $50.50 and a twelve month high of $75.07.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Tuesday, November 1st were given a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend was Monday, October 31st. ONEOK’s payout ratio is presently 103.89%.

ONEOK Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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