Gabelli Funds LLC maintained its stake in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 851,000 shares of the utilities provider’s stock at the end of the second quarter. Gabelli Funds LLC owned approximately 0.22% of ONEOK worth $44,388,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in ONEOK by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 291,579 shares of the utilities provider’s stock worth $16,740,000 after buying an additional 23,741 shares during the last quarter. Macquarie Group Ltd. boosted its stake in ONEOK by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 67,500 shares of the utilities provider’s stock worth $3,875,000 after buying an additional 2,020 shares during the last quarter. National Pension Service boosted its stake 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. Capstone Asset Management Co. boosted its stake 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. Finally, Fox Run Management L.L.C. acquired a new stake in ONEOK during the first quarter worth about $510,000. 80.89% of the stock is owned by institutional investors.
Shares of ONEOK, Inc. (OKE) opened at 50.36 on Friday. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47. The firm’s 50-day moving average price is $53.25 and its 200 day moving average price is $52.92. The firm has a market cap of $19.14 billion, a P/E ratio of 31.55 and a beta of 1.31.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter last year, the company earned $0.40 EPS. Analysts predict that ONEOK, Inc. will post $1.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio is 186.25%.
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A number of analysts recently issued reports on the company. Credit Suisse Group lowered their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 target price on shares of ONEOK in a research note on Friday, May 12th. UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $59.00 in a research note on Wednesday, June 14th. Jefferies Group LLC set a $51.00 target price on ONEOK and gave the stock a “hold” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. ONEOK has a consensus rating of “Hold” and a consensus 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 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 in the company, valued at approximately $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is 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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