NGAM Advisors L.P. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,285 shares of the utilities provider’s stock after selling 2,186 shares during the period. NGAM Advisors L.P.’s holdings in ONEOK were worth $1,110,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. 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 in 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 in the last quarter. Navellier & Associates Inc purchased a new position in shares of ONEOK during the first quarter valued at approximately $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 in 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 in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) opened at 50.61 on Thursday. The firm has a 50-day moving average price of $53.26 and a 200 day moving average price of $52.94. The firm has a market cap of $19.23 billion, a P/E ratio of 31.71 and a beta of 1.31. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company posted $0.40 EPS. On average, analysts forecast that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were issued a $0.745 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.89%. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio is presently 186.25%.
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Several equities analysts have recently commented on the company. Credit Suisse Group cut their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 5th. Finally, BMO Capital Markets upgraded ONEOK from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $53.00 to $59.00 in a research note on Wednesday, July 5th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ONEOK currently has an average rating of “Hold” and an average price target of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed 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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