ONEOK, Inc. (NYSE:OKE) Position Increased by Hodges Capital Management Inc.
Hodges Capital Management Inc. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 150.6% during the second quarter, Holdings Channel reports. The fund owned 17,145 shares of the utilities provider’s stock after buying an additional 10,303 shares during the period. Hodges Capital Management Inc.’s holdings in ONEOK were worth $894,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in ONEOK by 75.1% in the second quarter. Retirement Systems of Alabama now owns 178,345 shares of the utilities provider’s stock valued at $9,302,000 after buying an additional 76,469 shares during the last quarter. Smithfield Trust Co. raised its position in ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after buying an additional 1,034 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in ONEOK by 82.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 32,830 shares of the utilities provider’s stock valued at $1,712,000 after buying an additional 14,848 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in ONEOK by 93.1% in the second quarter. Stratos Wealth Partners LTD. now owns 8,867 shares of the utilities provider’s stock valued at $462,000 after buying an additional 4,276 shares during the last quarter. Finally, Sei Investments Co. raised its position in ONEOK by 96.4% in the second quarter. Sei Investments Co. now owns 144,322 shares of the utilities provider’s stock valued at $7,527,000 after buying an additional 70,830 shares during the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (NYSE OKE) opened at 52.76 on Thursday. The company has a market capitalization of $20.05 billion, a P/E ratio of 33.06 and a beta of 1.31. ONEOK, Inc. has a 52-week low of $44.98 and a 52-week high of $59.47. The stock’s 50 day moving average is $52.90 and its 200 day moving average is $53.07.
ONEOK (NYSE:OKE) last issued its quarterly 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. 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 business earned $0.40 earnings per share. Equities analysts expect that ONEOK, Inc. will post $1.54 EPS for the current 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 given a dividend of $0.745 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Thursday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 186.25%.
Several research firms recently issued reports on OKE. BidaskClub upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Credit Suisse Group dropped their price objective on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Friday, July 14th. Morgan Stanley lowered 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. Finally, BMO Capital Markets upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $53.00 to $59.00 in a report on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ONEOK currently has an average rating of “Hold” and an average price target of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.
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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