Whittier Trust Co. maintained its position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent filing with the SEC. The firm owned 6,261 shares of the utilities provider’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in ONEOK were worth $326,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV acquired a new position in ONEOK during the first quarter valued at approximately $100,000. Huntington National Bank boosted its position in ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock valued at $122,000 after buying an additional 554 shares during the period. Financial Architects Inc boosted its position in ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock valued at $208,000 after buying an additional 2,340 shares during the period. Agran Libbie acquired a new position in ONEOK during the first quarter valued at approximately $213,000. Finally, Pacer Advisors Inc. raised its stake in ONEOK by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,913 shares of the utilities provider’s stock valued at $217,000 after buying an additional 121 shares in the last quarter. Institutional investors own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (OKE) traded up 1.13% during midday trading on Friday, reaching $50.93. The company’s stock had a trading volume of 2,213,523 shares. 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 price of $53.23 and a 200-day moving average price of $52.90. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of 31.91 and a beta of 1.31.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that ONEOK, Inc. will post $1.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a $0.745 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, August 3rd. This represents a $2.98 annualized dividend and a yield of 5.85%. ONEOK’s payout ratio is currently 186.25%.
Several research firms recently issued reports on OKE. UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $59.00 in a research report on Wednesday, June 14th. BidaskClub lowered ONEOK from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. Credit Suisse Group dropped their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Finally, BMO Capital Markets raised ONEOK from a “market perform” rating to an “outperform” rating and upped their price target for the company from $53.00 to $59.00 in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s 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 sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.
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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