National Pension Service increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,274 shares of the utilities provider’s stock after buying an additional 21,464 shares during the period. National Pension Service owned 0.11% of ONEOK worth $11,915,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. State of Alaska Department of Revenue boosted its position in shares of ONEOK by 3.4% in the second quarter. State of Alaska Department of Revenue now owns 35,613 shares of the utilities provider’s stock valued at $1,857,000 after buying an additional 1,170 shares in the last quarter. Creative Planning boosted its stake in ONEOK by 7.0% in the second quarter. Creative Planning now owns 67,381 shares of the utilities provider’s stock worth $3,515,000 after buying an additional 4,436 shares during the period. CHICAGO TRUST Co NA boosted its stake in 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 during the period. Bank of Montreal Can boosted its stake in ONEOK by 56.8% in the second quarter. Bank of Montreal Can now owns 544,977 shares of the utilities provider’s stock worth $28,426,000 after buying an additional 197,339 shares during the period. Finally, Walnut Private Equity Partners LLC boosted its stake in ONEOK by 10.6% in the second quarter. Walnut Private Equity Partners LLC now owns 110,500 shares of the utilities provider’s stock worth $5,764,000 after buying an additional 10,573 shares during the period. Institutional investors own 80.89% of the company’s stock.
ONEOK, Inc. (NYSE OKE) traded up 0.38% during midday trading on Friday, hitting $52.41. The company had a trading volume of 2,238,052 shares. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 32.84 and a beta of 1.31. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47. The stock has a 50 day moving average of $53.16 and a 200 day moving average of $53.04.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 6.46% and a return on equity of 10.16%. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post $1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.745 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a yield of 5.69%. The ex-dividend date is Thursday, August 3rd. ONEOK’s payout ratio is currently 186.25%.
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OKE has been the subject of a number of recent analyst reports. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, June 21st. BidaskClub raised ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of ONEOK in a research note on Monday, April 17th. Finally, Guggenheim began coverage on ONEOK in a research note on Monday, April 17th. They set a “buy” rating and a $62.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. ONEOK presently has an average rating of “Hold” and an average price target of $57.15.
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 completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $912,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.
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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