Huntington National Bank decreased its position in ONEOK, Inc. (NYSE:OKE) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,122 shares of the utilities provider’s stock after selling 248 shares during the period. Huntington National Bank’s holdings in ONEOK were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC raised its stake in ONEOK by 18.3% in the second quarter. Ballentine Partners LLC now owns 25,538 shares of the utilities provider’s stock worth $1,758,000 after buying an additional 3,955 shares in the last quarter. Point72 Asset Management L.P. bought a new position in ONEOK in the second quarter worth approximately $51,047,000. Retirement Systems of Alabama raised its stake in ONEOK by 0.4% in the second quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after buying an additional 822 shares in the last quarter. Eqis Capital Management Inc. raised its stake in ONEOK by 35.5% in the second quarter. Eqis Capital Management Inc. now owns 15,465 shares of the utilities provider’s stock worth $1,064,000 after buying an additional 4,052 shares in the last quarter. Finally, RFG Advisory LLC raised its stake in ONEOK by 9.1% in the second quarter. RFG Advisory LLC now owns 11,032 shares of the utilities provider’s stock worth $764,000 after buying an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 74.40% of the company’s stock.

OKE has been the subject of a number of recent research reports. Goldman Sachs Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $73.00 to $81.00 in a research note on Sunday, November 3rd. Raymond James reduced their price objective on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Argus boosted their price objective on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. Credit Suisse Group boosted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price objective on shares of ONEOK from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $74.71.

Shares of OKE stock traded up $0.71 during trading hours on Friday, reaching $70.48. 1,716,742 shares of the company’s stock were exchanged, compared to its average volume of 1,912,538. The stock’s 50 day moving average is $71.29 and its 200-day moving average is $69.30. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $77.21.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. During the same period in the prior year, the firm posted $0.75 earnings per share. Equities analysts anticipate that ONEOK, Inc. will post 3.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Friday, November 1st. This is an increase from ONEOK’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. ONEOK’s dividend payout ratio is presently 131.65%.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the 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.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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