Breton Hill Capital Ltd. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 24.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 42,577 shares of the utilities provider’s stock after buying an additional 8,374 shares during the period. Breton Hill Capital Ltd.’s holdings in ONEOK were worth $2,221,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ONEOK during the first quarter worth $90,888,000. Janus Capital Management LLC boosted its stake in shares of ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock worth $150,838,000 after buying an additional 1,204,683 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock worth $475,243,000 after buying an additional 1,190,284 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of ONEOK during the first quarter worth $58,755,000. Institutional investors and hedge funds own 80.89% of the company’s stock.
ONEOK, Inc. (NYSE OKE) traded up 0.38% during trading on Friday, reaching $52.41. The company’s stock had a trading volume of 2,238,052 shares. The company’s 50 day moving average price is $53.16 and its 200-day moving average price is $53.04. The stock has a market cap of $19.92 billion, a P/E ratio of 32.84 and a beta of 1.31. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. ONEOK had a net margin of 6.46% and a return on equity of 10.16%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the business posted $0.40 EPS. Equities analysts forecast that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.745 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.69%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
A number of analysts have weighed in on OKE shares. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, June 21st. BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Morgan Stanley cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research report on Wednesday, July 5th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of ONEOK in a research report on Monday, April 17th. Finally, Guggenheim started coverage on ONEOK in a research report on Monday, April 17th. They issued a “buy” rating and a $62.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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