Prudential PLC Acquires 80,516 Shares of ONEOK, Inc. (NYSE:OKE)

Prudential PLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 102.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 158,849 shares of the utilities provider’s stock after acquiring an additional 80,516 shares during the quarter. Prudential PLC’s holdings in ONEOK were worth $12,954,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. raised its stake in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the period. Northern Trust Corp lifted its stake in shares of ONEOK by 1.5% during the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after buying an additional 85,736 shares in the last quarter. Norges Bank bought a new position in ONEOK in the 4th quarter worth approximately $297,948,000. Kayne Anderson Capital Advisors LP grew its stake in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Morgan Stanley raised their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Finally, Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $89.92.

ONEOK Trading Up 1.1 %

Shares of OKE opened at $92.03 on Tuesday. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The firm has a market cap of $53.75 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 4.51 and a beta of 1.67. The firm has a 50 day moving average price of $85.45 and a 200-day moving average price of $81.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.30%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.