ONEOK, Inc. (OKE) Stake Lowered by US Bancorp DE
US Bancorp DE decreased its position in ONEOK, Inc. (NYSE:OKE) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,930 shares of the utilities provider’s stock after selling 147 shares during the period. US Bancorp DE’s holdings in ONEOK were worth $1,091,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of ONEOK during the first quarter worth approximately $90,888,000. Janus Capital Management LLC boosted its stake in shares of ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock worth $150,838,000 after buying an additional 1,204,683 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock worth $475,243,000 after buying an additional 1,190,284 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of ONEOK during the first quarter worth approximately $58,755,000. 80.89% of the stock is currently owned by institutional investors and hedge funds.
ONEOK, Inc. (NYSE:OKE) traded up 0.11% on Wednesday, reaching $52.61. 938,116 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $52.62 and its 200 day moving average is $53.17. The stock has a market capitalization of $19.99 billion, a P/E ratio of 32.96 and a beta of 1.31. ONEOK, Inc. has a 1-year low of $44.82 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last released 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the firm earned $0.40 EPS. Analysts expect that ONEOK, Inc. will post $1.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s payout ratio is 186.25%.
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OKE has been the topic of a number of research reports. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, June 21st. BidaskClub raised shares of ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research note on Wednesday, July 5th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of ONEOK in a research note on Monday, April 17th. Finally, Guggenheim initiated coverage on shares of ONEOK in a research note on Monday, April 17th. They issued a “buy” rating and a $62.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction dated 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 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 SEC, which is available at this hyperlink. 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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