Comerica Bank grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 438,581 shares of the utilities providers stock after acquiring an additional 32,441 shares during the quarter. Comerica Bank owned 0.11% of ONEOK worth $23,701,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Delta Asset Management LLC TN acquired a new position in ONEOK during the second quarter worth about $103,000. Ropes Wealth Advisors LLC acquired a new position in ONEOK during the second quarter worth about $103,000. Smithfield Trust Co. raised its stake in ONEOK by 107.7% during the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities providers stock worth $104,000 after acquiring an additional 1,034 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in ONEOK by 462.9% during the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities providers stock worth $109,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Mercer Capital Advisers Inc. raised its stake in ONEOK by 229.8% during the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities providers stock worth $110,000 after acquiring an additional 1,379 shares in the last quarter. 53.22% of the stock is owned by hedge funds and other institutional investors.
ONEOK, Inc. (OKE) traded down $0.83 during trading hours on Wednesday, reaching $51.38. 2,921,600 shares of the companys stock were exchanged, compared to its average volume of 3,290,229. The firm has a market cap of $20,019.23, a P/E ratio of 32.63, a PEG ratio of 3.77 and a beta of 1.29. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41. ONEOK, Inc. has a twelve month low of $47.14 and a twelve month high of $59.47.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts consensus estimates 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 net margin of 3.76% and a return on equity of 9.25%. During the same period in the prior year, the company posted $0.43 EPS. research analysts expect that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, November 3rd. ONEOKs dividend payout ratio is presently 186.25%.
OKE has been the subject of several recent research reports. BMO Capital Markets set a $62.00 price objective on ONEOK and gave the company a buy rating in a research note on Wednesday, October 18th. Stifel Nicolaus reaffirmed a hold rating and issued a $54.00 price objective on shares of ONEOK in a research note on Thursday, October 12th. Zacks Investment Research raised ONEOK from a hold rating to a strong-buy rating and set a $65.00 price objective for the company in a research note on Tuesday, October 17th. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $58.00 price objective on shares of ONEOK in a research note on Monday, September 11th. Finally, Mizuho initiated coverage on ONEOK in a research note on Tuesday, October 10th. They issued a neutral rating and a $59.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $59.07.
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