Nissay Asset Management Corp Japan ADV cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 44,632 shares of the utilities provider’s stock after selling 1,112 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in ONEOK were worth $2,261,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in OKE. FMR LLC lifted its position in ONEOK by 26.7% during the 1st quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock worth $16,051,000 after acquiring an additional 48,432 shares in the last quarter. Strs Ohio raised its position in shares of ONEOK by 10.1% in the 4th quarter. Strs Ohio now owns 5,160 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 472 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of ONEOK by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 362,940 shares of the utilities provider’s stock valued at $13,930,000 after purchasing an additional 21,854 shares in the last quarter. First Trust Advisors LP raised its position in shares of ONEOK by 68.2% in the 4th quarter. First Trust Advisors LP now owns 400,592 shares of the utilities provider’s stock valued at $15,375,000 after purchasing an additional 162,444 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of ONEOK by 6.0% in the 4th quarter. California Public Employees Retirement System now owns 972,494 shares of the utilities provider’s stock valued at $37,324,000 after purchasing an additional 55,294 shares in the last quarter. 63.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. TheStreet raised ONEOK from a “c+” rating to a “b-” rating in a research report on Wednesday, April 28th. Morgan Stanley upgraded ONEOK from an “underweight” rating to an “equal weight” rating and set a $55.00 price target for the company in a report on Wednesday, May 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday. Raymond James boosted their price target on ONEOK from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Finally, Wells Fargo & Company upped their price objective on ONEOK from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $44.59.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 27th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. ONEOK had a return on equity of 18.61% and a net margin of 11.88%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the business posted $0.83 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 3.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, April 26th were given a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend was Friday, April 23rd. ONEOK’s payout ratio is 263.38%.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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