Traders Sell Shares of ONEOK, Inc. (OKE) on Strength (OKE)
Investors sold shares of ONEOK, Inc. (NYSE:OKE) on strength during trading hours on Wednesday. $29.23 million flowed into the stock on the tick-up and $148.85 million flowed out of the stock on the tick-down, for a money net flow of $119.62 million out of the stock. Of all equities tracked, ONEOK had the 3rd highest net out-flow for the day. ONEOK traded up $0.39 for the day and closed at $56.48
A number of research analysts recently commented on the stock. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $52.00 price target (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. BidaskClub upgraded shares of ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $57.57.
The firm has a market capitalization of $21.46 billion, a PE ratio of 35.39 and a beta of 1.32. The stock’s 50 day moving average price is $53.96 and its 200-day moving average price is $52.84.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations 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 business earned $0.40 EPS. On average, analysts expect that ONEOK, Inc. will post $1.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $0.745 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.28%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
In other 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 value of $100,680.00. Following the completion of the transaction, the director now owns 18,125 shares in the company, valued at $912,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in ONEOK by 2,987.9% during the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after acquiring an additional 18,091,903 shares in the last quarter. State Street Corp grew its stake in ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after acquiring an additional 6,086,061 shares in the last quarter. Vanguard Group Inc. grew its stake in ONEOK by 17.3% during the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after acquiring an additional 4,002,795 shares in the last quarter. Janus Henderson Group PLC grew its stake in ONEOK by 10,295.1% during the second quarter. Janus Henderson Group PLC now owns 2,258,138 shares of the utilities provider’s stock valued at $117,779,000 after acquiring an additional 2,236,415 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in ONEOK during the first quarter valued at approximately $90,888,000. Hedge funds and other institutional investors own 51.23% of the company’s stock.
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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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