Carret Asset Management LLC Acquires Shares of 9,065 ONEOK, Inc. (OKE)
Carret Asset Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,065 shares of the utilities provider’s stock, valued at approximately $502,000.
A number of other hedge funds have also bought and sold shares of the business. Cowen Inc. bought a new position in ONEOK during the third quarter worth about $246,000. Oppenheimer Asset Management Inc. lifted its holdings in ONEOK by 85.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 39,260 shares of the utilities provider’s stock worth $2,175,000 after acquiring an additional 18,037 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in ONEOK by 69.5% during the third quarter. First Republic Investment Management Inc. now owns 66,316 shares of the utilities provider’s stock worth $3,674,000 after acquiring an additional 27,193 shares in the last quarter. Payden & Rygel bought a new position in ONEOK during the third quarter worth about $11,459,000. Finally, L & S Advisors Inc bought a new position in ONEOK during the third quarter worth about $246,000. Hedge funds and other institutional investors own 71.02% of the company’s stock.
Shares of ONEOK, Inc. (OKE) traded down $0.54 during trading on Thursday, hitting $51.80. The stock had a trading volume of 1,733,400 shares, compared to its average volume of 3,231,991. The company has a market capitalization of $20,069.08, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 3.36 and a beta of 1.26. ONEOK, Inc. has a 12 month low of $47.14 and a 12 month high of $59.47. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter last year, the firm earned $0.43 earnings per share. analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a $0.745 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.75%. ONEOK’s dividend payout ratio (DPR) is 186.25%.
OKE has been the topic of several recent analyst reports. Jefferies Group reiterated a “hold” rating and set a $52.00 target price (up from $51.00) on shares of ONEOK in a report on Friday, September 1st. UBS lifted their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research lowered ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub lowered ONEOK from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Barclays initiated coverage on ONEOK in a report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.07.
In other news, Director Brian L. Derksen purchased 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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