Old Mutual Global Investors UK Ltd. purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 28,232 shares of the utilities provider’s stock, valued at approximately $1,472,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in ONEOK by 3.9% in the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock valued at $1,285,939,000 after buying an additional 875,668 shares during the last quarter. BlackRock Inc. raised its stake in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after buying an additional 18,091,903 shares during the last quarter. State Street Corp raised its stake in ONEOK by 6.1% in the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock valued at $628,143,000 after buying an additional 649,957 shares during the last quarter. Neuberger Berman Group LLC raised its stake in ONEOK by 6.1% in the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock valued at $474,586,000 after buying an additional 526,450 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ONEOK by 25.1% in the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock valued at $356,012,000 after buying an additional 1,369,438 shares during the last quarter. Institutional investors own 51.23% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) opened at 56.22 on Friday. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47. The company’s 50-day moving average price is $53.86 and its 200 day moving average price is $52.82. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 35.23 and a beta of 1.32.
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 firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post $1.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were issued a $0.745 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Thursday, August 3rd. ONEOK’s payout ratio is presently 186.25%.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s 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 completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.
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OKE has been the subject of a number of research analyst reports. Argus reiterated a “buy” rating and issued a $59.00 price target (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Credit Suisse Group decreased their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research cut ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ONEOK presently has an average rating of “Hold” and a consensus target price of $57.54.
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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