Allspring Global Investments Holdings LLC Has $26.78 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Allspring Global Investments Holdings LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,874 shares of the utilities provider’s stock after acquiring an additional 257 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ONEOK were worth $26,781,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OKE. Tortoise Capital Advisors L.L.C. lifted its holdings in ONEOK by 3.5% in the second 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 buying an additional 232,043 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares during the period. First Eagle Investment Management LLC increased its holdings in ONEOK by 12.3% in 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 purchasing an additional 378,509 shares in the last quarter. Energy Income Partners LLC lifted its stake in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after buying an additional 319,487 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

ONEOK Stock Down 0.6 %

OKE opened at $96.77 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company’s 50-day moving average is $92.46 and its 200 day moving average is $85.04. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The firm has a market capitalization of $56.52 billion, a P/E ratio of 21.08, a PEG ratio of 4.20 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm earned $1.04 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OKE shares. Barclays increased their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Citigroup increased their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

About ONEOK

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.