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Larson Financial Group LLC raises its stake in ONEOK, Inc.

Larson Financial Group LLC raises its stake in ONEOK, Inc.

The most recent Form 13F filing that Larson Financial Group LLC made with the SEC revealed that during the third quarter of 2018, the company increased the percentage of ONEOK, Inc. (NYSE: OKE) shares that it owned by 3,874.4%. The institutional investor has a total of 32,868 shares in the utility service provider after making additional purchases amounting to 32,041 shares throughout the relevant period. The most recent report that Larson Financial Group LLC had to submit to the SEC indicated that the value of its holdings in ONEOK was calculated to be $1,684,000.

In the most recent few months, a variety of other hedge funds have modified the size of their positions in the company. During the first quarter, Vanguard Group Inc. increased the amount of OneOK stock owned by 2.1%, bringing its total ownership to 100%. Vanguard Group Inc. now has a total of 51,774,594 stock held by the utility provider after making additional purchases of 1,043,147 shares during the most recent fiscal quarter. The price at which these shares are currently trading is equivalent to $3,656,839,000. During the second quarter, State Street Corporation made a one percent increase in the proportion of one stock that it owned. State Street Corp now owns 33,164,685 utility provider stock, valued at $1,840,640, after purchasing an additional 339,036 shares during the most recent quarter. Charles Schwab Investment Management Inc. made a 7.8 percent increase in ONEOK holdings during the first three months of 2018. Charles Schwab Investment Management Inc. now has 7,288,822 shares of the utilities provider’s stock following the acquisition of an additional 527,138 shares during the most recent quarter. These shares have a combined value of $514,810,000 after the company purchases the additional shares. During the first quarter, Cowa LLC increased the amount of OneOK stock that is owned by a percentage that was 9,775.0% higher than before. Cowa LLC increased its holdings in the stock of the utility provider during the most recent quarter by purchasing an additional 5,270,510 shares, bringing the total number of shares bought to 5,324,428 at a value of $3,761,000. This brought the total number of shares owned by Cowa LLC to 5,324,428. And finally, during the second quarter, Northern Trust Corporation increased the amount of OneOK stock it already owned by 3.1% by purchasing additional shares. The most recent quarter saw Northern Trust Corp. acquire 148,165 shares, bringing the total number of shares it holds in the utility provider firm to 4,985,305, with a market value of $276,686,000. This brings the total number of shares it has acquired to 4,985,305. To the tune of 67.16% of the company’s shares, hedge funds and various other types of institutional investors are the owners of those shares.

Thursday’s trading activity decreased by $0.13 for NYSE: OKE, which led to the price reaching $68.52 less than before. The total number of shares traded in the company’s stock was 34,548, a significant drop from the stock’s typical volume of 2,352,607 shares. These values show a debt-to-equity ratio of 1.89, a quick ratio of 0.50, and a current ratio of 0.67. All of these ratios are positive. The moving average for the company over the past 50 days is $65.76, and the moving average over the past 200 days is, respectively, $61.21. The company’s stock price reached a yearly low of $50.50 during the previous year, while it reached a yearly high of $75.07. A market capitalization of $30.63 billion, a price-to-earnings ratio of 19.07, a price-to-growth ratio of 1.89, and a beta coefficient of 1.70 are all associated with the company.

ONEOK (NYSE: OKE) announced the outcomes of its most recent quarterly financial report on November 1, a Tuesday. The provider of utility services reported earnings per share of $0.96 for the quarter, which was $0.03 higher than the $0.93 that analysts had projected as the average expectation for the quarter. The return on equity for OneOK was calculated to be 26.46%, and the net margin for the company was calculated to be 7.10%. Although market analysts forecasted that the company would bring in $6.52 billion in revenue during the quarter, the actual amount that the company could bring in was only $5.91 billion. ONEOK, Inc. is expected to generate earnings of $3.82 per share this year, according to projections made by analysts on the stock market.

The company also recently announced a quarterly dividend, and it is scheduled to be distributed on February 14 of this year. The distribution of dividends to shareholders, which will amount to $0.955 per share, will take place on January 30, the date used for recording purposes. This translates to a dividend payout of $3.82 per year and a yield on the investment of 5.58%. This represents an increase from the previous dividend payment of $0.94 made by OneOK every quarter as a distribution to shareholders. The look is committed to maintaining a dividend payout ratio of 103.89 percent.

Several research companies have recently published the results of their investigations into OKE. In a report released on January 10, JPMorgan Chase & Co. increased their price objective for ONEOK shares from $71.00 to $75.00 and changed the stock’s rating from “neutral” to “overweight.” All of these changes announced in a research report published on Wednesday were made in response to one or receiving an “equal weight” rating from Barclays, which meant that the firm increased their price target for the stock from $59.00 to $71.00. In a research report released on Friday, December 16, Wells Fargo & Company raised their price target for ONEOK from $68.00 to $75.00. Additionally, they upgraded the stock from an “equal weight” rating to an “overweight” rating. In a research report published by the brokerage firm on January 9, Morgan Stanley raised their price objective for ONEOK shares from $70.00 to $81.00 and classified the company as “equal weight.” The long-awaited entry of StockNews.com into the industry came to fruition on October 12 with the publication’s first news story on ONEOK shares. They advised their clients to “hold” the stock moving forward. Five financial analysts have issued a buy recommendation for the company’s stock, while seven have maintained a hold rating for the business. According to information provided by the website Bloomberg.com, the company’s current consensus target price is $70.60, and the average recommendation for the stock is to “Hold.”

Natural gas is gathered, processed, fractionated, transported, stored, and sold by ONEOK, Inc., which is also responsible for the company’s overall operations. The company’s primary areas of business activity include natural gas gathering and processing, natural gas liquids, and natural gas pipelines. The natural gas gathering and processing sector can offer its midstream services to producers in North Dakota, Montana, Wyoming, Kansas, and Oklahoma. These producers can benefit from these services.

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