Charles Schwab Investment Management Inc. Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Charles Schwab Investment Management Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,480,774 shares of the utilities provider’s stock after purchasing an additional 661,854 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.99% of ONEOK worth $1,593,023,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service grew its stake in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. boosted its position in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new position in shares of ONEOK during the 2nd quarter worth $1,225,000. Point72 Europe London LLP bought a new position in shares of ONEOK in the 2nd quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.9 %

Shares of OKE opened at $114.17 on Thursday. The stock has a market capitalization of $66.70 billion, a PE ratio of 23.67, a P/E/G ratio of 5.64 and a beta of 1.66. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $114.33. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $97.84 and its 200-day moving average is $88.39.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the company earned $0.99 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.47%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on OKE shares. Scotiabank upped their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.38.

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.