Zurcher Kantonalbank Zurich Cantonalbank Has $24.60 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in ONEOK, Inc. (NYSE:OKE) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,964 shares of the utilities provider’s stock after selling 13,429 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ONEOK were worth $24,602,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter valued at approximately $29,000. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC bought a new stake in ONEOK during the 2nd quarter valued at $31,000. Access Investment Management LLC acquired a new position in ONEOK during the third quarter worth $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter valued at $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.9 %

Shares of OKE stock opened at $113.64 on Friday. The stock has a market capitalization of $66.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 5.69 and a beta of 1.66. The company’s fifty day simple moving average is $100.75 and its two-hundred day simple moving average is $90.01. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.99 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.48%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OKE shares. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Barclays increased their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Company 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.