Truist Financial Corp lifted its stake in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 1.5% during the third quarter, HoldingsChannel.com reports. The firm owned 42,280 shares of the utilities provider’s stock after purchasing an additional 627 shares during the period. Truist Financial Corp’s holdings in ONEOK were worth $2,166,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intrua Financial LLC grew its stake in shares of ONEOK by 5.1% during the 2nd quarter. Intrua Financial LLC now owns 3,609 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 175 shares during the period. Moody National Bank Trust Division grew its stake in shares of ONEOK by 1.3% during the 3rd quarter. Moody National Bank Trust Division now owns 15,417 shares of the utilities provider’s stock worth $790,000 after purchasing an additional 194 shares during the period. International Assets Investment Management LLC grew its stake in shares of ONEOK by 1.9% during the 1st quarter. International Assets Investment Management LLC now owns 10,318 shares of the utilities provider’s stock worth $729,000 after purchasing an additional 196 shares during the period. Fifth Third Bancorp grew its stake in ONEOK by 1.5% in the 3rd quarter. Fifth Third Bancorp now owns 13,412 shares of the utilities provider’s stock valued at $687,000 after acquiring an additional 199 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in ONEOK by 3.7% in the 2nd quarter. Whittier Trust Co. now owns 5,641 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 200 shares during the last quarter. 67.16% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on OKE. StockNews.com began coverage on shares of ONEOK in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Citigroup began coverage on shares of ONEOK in a research note on Thursday, December 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. raised shares of ONEOK from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $71.00 to $75.00 in a research note on Tuesday, January 10th. Raymond James lowered their price objective on shares of ONEOK from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Finally, Morgan Stanley upped their target price on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, January 9th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Hold” and an average target price of $69.09.
ONEOK Trading Down 0.1 %
ONEOK (NYSE:OKE – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.52 billion. ONEOK had a net margin of 7.10% and a return on equity of 26.46%. As a group, equities analysts forecast that ONEOK, Inc. will post 3.82 EPS for the current year.
ONEOK Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors 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 yield of 5.28%. The ex-dividend date was Monday, October 31st. ONEOK’s dividend payout ratio (DPR) is presently 103.89%.
ONEOK Company Profile
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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