Duff & Phelps Investment Management Co. grew its stake in ONEOK, Inc. (NYSE:OKE) by 326.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,976 shares of the utilities provider’s stock after purchasing an additional 329,971 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.11% of ONEOK worth $23,880,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of OKE. CHICAGO TRUST Co NA lifted its stake in shares of ONEOK by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 20 shares during the last quarter. New Amsterdam Partners LLC NY lifted its stake in shares of ONEOK by 0.6% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock worth $489,000 after acquiring an additional 58 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of ONEOK by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock worth $805,000 after acquiring an additional 58 shares during the last quarter. Utah Retirement Systems increased its holdings in ONEOK by 0.3% during the 2nd quarter. Utah Retirement Systems now owns 38,294 shares of the utilities provider’s stock worth $1,997,000 after purchasing an additional 100 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in ONEOK by 2.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,034 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 101 shares during the period. 52.51% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Duff & Phelps Investment Management Co. Boosts Holdings in ONEOK, Inc. (NYSE:OKE)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/11/13/duff-phelps-investment-management-co-raises-position-in-oneok-inc-oke.html.
Shares of ONEOK, Inc. (NYSE OKE) traded down $0.59 on Friday, reaching $52.40. The company’s stock had a trading volume of 2,438,400 shares, compared to its average volume of 2,317,678. ONEOK, Inc. has a 12 month low of $46.82 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. The firm has a market cap of $20,092.10, a PE ratio of 32.75, a P/E/G ratio of 3.79 and a beta of 1.29.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the prior year, the firm posted $0.43 EPS. equities research analysts predict that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be issued a $0.745 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.69%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
Several research analysts have commented on the company. BidaskClub upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Credit Suisse Group reduced their price objective on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. J P Morgan Chase & Co restated a “neutral” rating and set a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Argus restated a “buy” rating and set a $59.00 price objective (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price target on shares of ONEOK in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $59.07.
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.
Receive News & Ratings for ONEOK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.