Xact Kapitalforvaltning AB boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,981 shares of the utilities provider’s stock after buying an additional 1,615 shares during the period. Xact Kapitalforvaltning AB’s holdings in ONEOK were worth $990,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Capstone Asset Management Co. boosted its position in ONEOK by 0.4% in the first quarter. Capstone Asset Management Co. now owns 18,444 shares of the utilities provider’s stock worth $1,023,000 after buying an additional 80 shares during the last quarter. National Pension Service boosted its position in ONEOK by 16,329.9% in the first quarter. National Pension Service now owns 209,810 shares of the utilities provider’s stock worth $11,523,000 after buying an additional 208,533 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in ONEOK by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 66,631 shares of the utilities provider’s stock worth $3,694,000 after buying an additional 725 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in ONEOK by 258.5% in the first quarter. Contravisory Investment Management Inc. now owns 4,933 shares of the utilities provider’s stock worth $273,000 after buying an additional 3,557 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in ONEOK by 27.1% in the first quarter. Denali Advisors LLC now owns 67,300 shares of the utilities provider’s stock worth $3,731,000 after buying an additional 14,329 shares during the last quarter. 80.89% of the stock is owned by institutional investors.
ONEOK, Inc. (NYSE:OKE) traded down 0.59% during trading on Friday, reaching $53.53. 2,804,981 shares of the company’s stock traded hands. ONEOK, Inc. has a 1-year low of $42.87 and a 1-year high of $59.47. The firm has a market capitalization of $20.34 billion, a PE ratio of 33.54 and a beta of 1.31. The firm has a 50 day moving average of $52.22 and a 200 day moving average of $53.15.
ONEOK (NYSE:OKE) last posted its 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business posted $0.40 earnings per share. Equities analysts forecast that ONEOK, Inc. will post $1.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.745 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.57%. ONEOK’s payout ratio is 186.25%.
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OKE has been the subject of a number of research reports. Credit Suisse Group cut their target price on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday. BMO Capital Markets reissued a “hold” rating and set a $53.00 target price on shares of ONEOK in a research note on Monday, April 17th. Guggenheim initiated coverage on shares of ONEOK in a research note on Monday, April 17th. They set a “buy” rating and a $62.00 target price for the company. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. ONEOK has an average rating of “Hold” and a consensus target price of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now directly 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 accessible through this link. 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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