Aveo Capital Partners LLC Boosts Position in ONEOK, Inc. (OKE)
Aveo Capital Partners LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,909 shares of the utilities provider’s stock after buying an additional 1,075 shares during the period. Aveo Capital Partners LLC’s holdings in ONEOK were worth $413,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in OKE. Janney Montgomery Scott LLC increased its stake in ONEOK by 102.1% in the first quarter. Janney Montgomery Scott LLC now owns 39,307 shares of the utilities provider’s stock valued at $2,179,000 after buying an additional 19,859 shares during the period. Penserra Capital Management LLC increased its stake in ONEOK by 14.6% in the first quarter. Penserra Capital Management LLC now owns 22,931 shares of the utilities provider’s stock valued at $1,271,000 after buying an additional 2,925 shares during the period. Parsons Capital Management Inc. RI increased its stake in ONEOK by 12.0% in the first quarter. Parsons Capital Management Inc. RI now owns 4,465 shares of the utilities provider’s stock valued at $248,000 after buying an additional 480 shares during the period. 1st Global Advisors Inc. acquired a new stake in ONEOK during the first quarter valued at approximately $885,000. Finally, Macquarie Group Ltd. increased 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 valued at $3,875,000 after buying an additional 2,020 shares during the period. Hedge funds and other institutional investors own 80.89% of the company’s stock.
ONEOK, Inc. (NYSE:OKE) opened at 52.55 on Wednesday. The firm has a market capitalization of $19.97 billion, a PE ratio of 32.93 and a beta of 1.31. ONEOK, Inc. has a 52 week low of $44.82 and a 52 week high of $59.47. The firm has a 50-day moving average of $52.62 and a 200 day moving average of $53.17.
ONEOK (NYSE:OKE) last posted its earnings results 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 company 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 in the previous year, the business posted $0.40 earnings per share. Analysts predict that ONEOK, Inc. will post $1.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.67%. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 186.25%.
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Several analysts recently commented on OKE shares. Credit Suisse Group reduced their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $58.00 price target on shares of ONEOK in a research report on Friday, May 12th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of ONEOK in a research report on Monday, April 17th. Finally, Morgan Stanley downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research report on Wednesday, July 5th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company 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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