ONEOK, Inc. (NYSE:OKE) posted 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, Morningstar.com reports. ONEOK had a return on equity of 10.16% and a net margin of 6.46%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company posted $0.40 earnings per share.
ONEOK (OKE) traded up 0.38% during trading on Friday, hitting $52.41. 2,238,052 shares of the company traded hands. The company has a market capitalization of $19.92 billion, a P/E ratio of 32.84 and a beta of 1.31. The stock has a 50 day moving average price of $53.16 and a 200 day moving average price of $53.04. ONEOK has a 12-month low of $45.41 and a 12-month high of $59.47.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be paid a $0.745 dividend. The ex-dividend date is Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a dividend yield of 5.69%. ONEOK’s dividend payout ratio is 186.25%.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the sale, the director now directly owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. CHICAGO TRUST Co NA boosted its stake in shares of ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares in the last quarter. Cleararc Capital Inc. boosted its stake in shares of ONEOK by 0.7% in the first quarter. Cleararc Capital Inc. now owns 5,147 shares of the utilities provider’s stock worth $285,000 after buying an additional 36 shares in the last quarter. New Amsterdam Partners LLC NY boosted its stake in shares of ONEOK by 0.6% in the second quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock worth $489,000 after buying an additional 58 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of ONEOK by 0.4% in the second quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock worth $805,000 after buying an additional 58 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of ONEOK by 0.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,076 shares of the utilities provider’s stock worth $448,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
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Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of ONEOK in a research report on Monday, April 17th. They set a “buy” rating and a $62.00 price target on the stock. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $59.00 in a research report on Wednesday, June 14th. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Argus raised shares of 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. Finally, Jefferies Group LLC set a $51.00 price target on shares of ONEOK and gave the stock a “hold” rating in a research report on Friday, June 16th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $57.15.
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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