ING Groep NV acquired a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,748 shares of the utilities provider’s stock, valued at approximately $404,000.
Other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in ONEOK by 102.1% in the first quarter. Janney Montgomery Scott LLC now owns 39,307 shares of the utilities provider’s stock worth $2,179,000 after buying an additional 19,859 shares during the period. Penserra Capital Management LLC boosted its position in ONEOK by 14.6% in the first quarter. Penserra Capital Management LLC now owns 22,931 shares of the utilities provider’s stock worth $1,271,000 after buying an additional 2,925 shares during the period. Parsons Capital Management Inc. RI boosted its position in ONEOK by 12.0% in the first quarter. Parsons Capital Management Inc. RI now owns 4,465 shares of the utilities provider’s stock worth $248,000 after buying an additional 480 shares during the period. 1st Global Advisors Inc. bought a new position in ONEOK during the first quarter worth about $885,000. Finally, Macquarie Group Ltd. boosted its position in ONEOK by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 67,500 shares of the utilities provider’s stock worth $3,875,000 after buying an additional 2,020 shares during the period. 80.89% of the stock is currently owned by institutional investors.
ONEOK, Inc. (OKE) traded up 1.13% during midday trading on Friday, reaching $50.93. 2,213,523 shares of the company’s stock traded hands. The firm’s 50-day moving average is $53.23 and its 200 day moving average is $52.90. The firm has a market cap of $19.35 billion, a PE ratio of 31.91 and a beta of 1.31. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts expect that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 5.85%. The ex-dividend date was Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio is currently 186.25%.
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A number of equities analysts have recently issued reports on OKE shares. Credit Suisse Group cut their price objective on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price objective on shares of ONEOK in a research report on Friday, May 12th. Finally, BidaskClub raised shares of ONEOK from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were 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 $912,412.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.
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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