Parkside Financial Bank & Trust Acquires 4,596 Shares of ONEOK, Inc. (NYSE:OKE)

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Parkside Financial Bank & Trust increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 88.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,816 shares of the utilities provider’s stock after acquiring an additional 4,596 shares during the period. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Evanson Asset Management LLC boosted its position in ONEOK by 0.3% in the 3rd quarter. Evanson Asset Management LLC now owns 45,538 shares of the utilities provider’s stock valued at $3,356,000 after buying an additional 145 shares during the last quarter. Liberty Wealth Management LLC boosted its position in ONEOK by 25.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 748 shares of the utilities provider’s stock valued at $52,000 after buying an additional 150 shares during the last quarter. Synovus Financial Corp boosted its position in ONEOK by 3.7% in the 2nd quarter. Synovus Financial Corp now owns 4,291 shares of the utilities provider’s stock valued at $296,000 after buying an additional 152 shares during the last quarter. Haverford Trust Co. boosted its position in ONEOK by 5.2% in the 3rd quarter. Haverford Trust Co. now owns 3,110 shares of the utilities provider’s stock valued at $229,000 after buying an additional 155 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in ONEOK by 0.3% in the 3rd quarter. Moors & Cabot Inc. now owns 45,389 shares of the utilities provider’s stock valued at $3,348,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.

Shares of OKE stock traded up $0.71 during trading hours on Friday, reaching $70.48. The company had a trading volume of 1,716,742 shares, compared to its average volume of 1,912,538. The company has a 50 day moving average of $71.29 and a 200 day moving average of $69.30. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.95. The firm 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. ONEOK, Inc. has a 1-year low of $50.26 and a 1-year high of $77.21.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.74. The company 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 quarter in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 3.1 EPS for the current fiscal year.

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

A number of brokerages have commented on OKE. Credit Suisse Group increased their price objective on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Raymond James decreased their price objective on ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays set a $79.00 price objective on ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. Goldman Sachs Group upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. Finally, UBS Group decreased their price objective on ONEOK from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $74.71.

ONEOK Company 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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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