DnB Asset Management AS raised its position in ONEOK, Inc. (NYSE:OKE) by 19.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,092 shares of the utilities provider’s stock after buying an additional 3,700 shares during the period. DnB Asset Management AS’s holdings in ONEOK were worth $1,204,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV acquired a new position in ONEOK during the first quarter worth about $100,000. Huntington National Bank boosted its stake 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 worth $122,000 after buying an additional 554 shares during the last quarter. Financial Architects Inc boosted its stake in shares of ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock worth $208,000 after buying an additional 2,340 shares during the last quarter. Agran Libbie purchased a new stake in shares of ONEOK during the first quarter worth approximately $213,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of ONEOK by 5,543.1% in the first quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock worth $214,000 after buying an additional 3,991 shares during the last quarter. 80.89% of the stock is owned by institutional investors.
ONEOK, Inc. (NYSE OKE) traded down 0.98% on Tuesday, hitting $52.55. The stock had a trading volume of 2,568,571 shares. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 32.93 and a beta of 1.31. The stock’s 50 day moving average is $52.62 and its 200 day moving average is $53.17. ONEOK, Inc. has a one year low of $44.82 and a one year high of $59.47.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by $0.12. The firm 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 last year, the company earned $0.40 EPS. Analysts anticipate that ONEOK, Inc. will post $1.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.745 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.98 annualized dividend and a yield of 5.67%. ONEOK’s dividend payout ratio is 186.25%.
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A number of equities research analysts have recently commented 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 note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of ONEOK in a research note on Monday, April 17th. Guggenheim assumed coverage on shares of ONEOK in a research note on Monday, April 17th. They issued a “buy” rating and a $62.00 price target on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of ONEOK in a research note on Friday, May 12th. Finally, UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $59.00 in a research note on Wednesday, June 14th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.
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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