DekaBank Deutsche Girozentrale Increases Stake in ONEOK, Inc. (NYSE:OKE)

DekaBank Deutsche Girozentrale raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,969 shares of the utilities provider’s stock after buying an additional 8,725 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in ONEOK were worth $10,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in shares of ONEOK during the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new position in shares of ONEOK during the 1st quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $31,000. Finally, American National Bank bought a new position in shares of ONEOK during the 1st quarter valued at approximately $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKE. Royal Bank of Canada raised their price target on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Performance

OKE stock opened at $93.68 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The business has a 50-day moving average price of $86.36 and a 200 day moving average price of $82.00. The company has a market capitalization of $54.72 billion, a P/E ratio of 21.79, a PEG ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $93.88.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the company posted $1.04 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.23%. ONEOK’s dividend payout ratio is presently 92.09%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.