KBC Group NV Acquires 376 Shares of ONEOK, Inc. (NYSE:OKE)

KBC Group NV boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,383 shares of the utilities provider’s stock after buying an additional 376 shares during the quarter. KBC Group NV’s holdings in ONEOK were worth $4,136,000 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 business. Matrix Trust Co purchased a new stake in shares of ONEOK in the 3rd quarter worth $29,000. Quest Partners LLC bought a new stake in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter worth about $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK during the 3rd quarter valued at about $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

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

ONEOK Price Performance

Shares of ONEOK stock opened at $109.81 on Monday. The firm has a market cap of $64.15 billion, a PE ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66. The stock has a 50 day moving average of $96.54 and a 200 day moving average of $87.72. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $64.68 and a 12 month high of $110.05.

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

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. 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 dividend payout ratio is 82.85%.

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.