ONEOK, Inc. (NYSE:OKE) Position Lowered by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,358 shares of the utilities provider’s stock after selling 524 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in ONEOK were worth $905,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in OKE. Massmutual Trust Co. FSB ADV bought a new stake in shares of ONEOK during the first quarter worth about $100,000. Delta Asset Management LLC TN bought a new stake in shares of ONEOK during the second quarter worth about $103,000. Huntington National Bank increased its stake 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 worth $122,000 after buying an additional 554 shares during the last quarter. Financial Architects Inc increased its stake in shares of ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock worth $208,000 after buying an additional 2,340 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares during the last quarter. 80.89% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (NYSE:OKE) opened at 53.53 on Monday. ONEOK, Inc. has a one year low of $44.27 and a one year high of $59.47. The firm’s 50-day moving average is $52.22 and its 200 day moving average is $53.15. The stock has a market cap of $20.34 billion, a P/E ratio of 33.54 and a beta of 1.31.
ONEOK (NYSE:OKE) last issued its quarterly 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 return on equity of 8.62% and a net margin of 3.26%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the company posted $0.40 EPS. On average, analysts anticipate that ONEOK, Inc. will post $1.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 5.57%. The ex-dividend date is Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio is 186.25%.
A number of analysts have recently issued reports on OKE shares. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 21st. Guggenheim initiated coverage on shares of ONEOK in a report on Monday, April 17th. They issued a “buy” rating and a $62.00 price objective on the stock. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a report on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is currently 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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