KBC Group NV Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

KBC Group NV boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,383 shares of the utilities provider’s stock after acquiring an additional 376 shares during the quarter. KBC Group NV’s holdings in ONEOK were worth $4,136,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of ONEOK during the second quarter valued at $28,000. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter valued at about $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the 2nd quarter worth about $31,000. Access Investment Management LLC purchased a new position in shares of ONEOK during the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new stake in shares of ONEOK during the third quarter valued at approximately $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company increased their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.38.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated 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 document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

ONEOK Price Performance

Shares of NYSE OKE opened at $109.81 on Monday. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $110.05. The company has a market cap of $64.15 billion, a PE ratio of 22.97, a P/E/G ratio of 5.48 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business has a 50-day simple moving average of $96.54 and a two-hundred day simple moving average of $87.72.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business earned $0.99 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

ONEOK Company 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.