Principal Financial Group Inc. Has $64.73 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Principal Financial Group Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 710,314 shares of the utilities provider’s stock after purchasing an additional 24,193 shares during the period. Principal Financial Group Inc.’s holdings in ONEOK were worth $64,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of OKE. National Pension Service lifted its holdings in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new position in shares of ONEOK in the 2nd quarter valued at $1,225,000. Point72 Europe London LLP bought a new position in shares of ONEOK in the 2nd quarter worth $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Morgan Stanley upgraded shares of 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 report on Monday, September 16th. 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 report on Friday, August 30th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Stock Up 2.5 %

Shares of ONEOK stock opened at $100.08 on Friday. The firm has a market cap of $58.47 billion, a PE ratio of 20.94, a P/E/G ratio of 5.24 and a beta of 1.69. The business’s 50 day simple moving average is $104.05 and its 200 day simple moving average is $92.55. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm earned $0.99 EPS. On average, analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, November 1st. ONEOK’s 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.