Trust Co. of Oklahoma lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.2% in the second quarter, HoldingsChannel reports. The fund owned 11,884 shares of the utilities provider’s stock after buying an additional 800 shares during the period. Trust Co. of Oklahoma’s holdings in ONEOK were worth $818,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of ONEOK by 7.9% during the first quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock worth $3,115,917,000 after acquiring an additional 3,261,539 shares during the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock valued at $287,526,000 after purchasing an additional 415,385 shares during the last quarter. Northern Trust Corp increased its holdings in ONEOK by 6.4% in the first quarter. Northern Trust Corp now owns 4,943,927 shares of the utilities provider’s stock valued at $345,285,000 after purchasing an additional 295,729 shares during the last quarter. Clearbridge Investments LLC increased its holdings in ONEOK by 2.8% in the first quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock valued at $218,297,000 after purchasing an additional 83,906 shares during the last quarter. Finally, Ronna Sue Cohen increased its holdings in ONEOK by 6,877.6% in the first quarter. Ronna Sue Cohen now owns 2,706,461 shares of the utilities provider’s stock valued at $2,706,000 after purchasing an additional 2,667,673 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.
NYSE:OKE traded down $3.35 on Monday, reaching $67.64. The company’s stock had a trading volume of 1,593,718 shares, compared to its average volume of 1,936,748. ONEOK, Inc. has a 1-year low of $50.26 and a 1-year high of $72.38. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock has a market cap of $29.32 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.05 and a beta of 1.17. The stock’s 50-day moving average price is $68.70.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was down 17.0% on a year-over-year basis. As a group, equities research analysts forecast that ONEOK, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.26%. This is a boost from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, August 5th. ONEOK’s payout ratio is presently 124.46%.
A number of equities research analysts recently commented on OKE shares. Citigroup upped their price objective on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Seaport Global Securities downgraded ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price objective for the company. in a report on Monday, April 22nd. Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 16th. Finally, Mitsubishi UFJ Financial Group upped their price objective on ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.62.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the 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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