ONEOK, Inc. (NYSE:OKE) Stake Raised by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 7.1% during the second quarter, Holdings Channel reports. The fund owned 116,033 shares of the utilities provider’s stock after buying an additional 7,697 shares during the period. Catalyst Capital Advisors LLC’s holdings in ONEOK were worth $6,052,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV purchased a new position in ONEOK during the first quarter valued at $100,000. Delta Asset Management LLC TN purchased a new position in ONEOK during the second quarter valued at $103,000. 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. Huntington National Bank raised its position in ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock valued at $122,000 after buying an additional 554 shares during the last quarter. Finally, Financial Architects Inc raised its position in ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock valued at $208,000 after buying an additional 2,340 shares during the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.
ONEOK, Inc. (OKE) opened at 52.41 on Friday. The company has a market cap of $19.92 billion, a price-to-earnings ratio of 32.84 and a beta of 1.31. ONEOK, Inc. has a 52 week low of $45.41 and a 52 week high of $59.47. The firm has a 50-day moving average of $53.16 and a 200-day moving average of $53.04.
ONEOK (NYSE:OKE) last posted 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. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities analysts forecast 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. Shareholders 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 5.69%. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, August 3rd. ONEOK’s dividend payout ratio is presently 186.25%.
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Several research analysts recently weighed in on the stock. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $59.00 in a research note on Wednesday, June 14th. Credit Suisse Group reduced their price objective on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets raised shares of ONEOK from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $53.00 to $59.00 in a research note on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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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