Allegis Investment Advisors LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 92.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,367 shares of the utilities provider’s stock after buying an additional 4,492 shares during the period. Allegis Investment Advisors LLC’s holdings in ONEOK were worth $489,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of OKE. Nationwide Fund Advisors raised its position in shares of ONEOK by 5.4% in the first quarter. Nationwide Fund Advisors now owns 60,542 shares of the utilities provider’s stock valued at $3,356,000 after buying an additional 3,127 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of ONEOK by 27.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 17,982 shares of the utilities provider’s stock valued at $997,000 after buying an additional 3,862 shares during the last quarter. Navellier & Associates Inc bought a new position in shares of ONEOK during the first quarter valued at $4,488,000. Retirement Systems of Alabama raised its position in shares of ONEOK by 2.1% in the first quarter. Retirement Systems of Alabama now owns 101,876 shares of the utilities provider’s stock valued at $5,648,000 after buying an additional 2,095 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of 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 last quarter. 80.89% of the stock is currently owned by institutional investors.
ONEOK, Inc. (NYSE OKE) opened at 50.61 on Thursday. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47. The company’s 50-day moving average is $53.26 and its 200-day moving average is $52.94. The company has a market capitalization of $19.23 billion, a price-to-earnings ratio of 31.71 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, analysts expect that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 5.89%. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, August 3rd. ONEOK’s dividend payout ratio is 186.25%.
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Several equities analysts have recently weighed in on the stock. Credit Suisse Group dropped 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. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. Morgan Stanley lowered 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. Finally, BMO Capital Markets raised shares of ONEOK from a “market perform” rating to an “outperform” rating and increased their price objective 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 stock. The company presently has an average rating of “Hold” and a consensus price target of $57.15.
In related 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 directly owns 18,125 shares in the company, valued at $912,412.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate 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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