Sei Investments Co. Reduces Position in ONEOK, Inc. (OKE)
Sei Investments Co. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 58.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,548 shares of the utilities provider’s stock after selling 117,073 shares during the quarter. Sei Investments Co.’s holdings in ONEOK were worth $4,520,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fieldpoint Private Securities LLC purchased a new stake in shares of ONEOK during the third quarter worth approximately $150,000. Sun Life Financial INC increased its position in shares of ONEOK by 82.1% during the third quarter. Sun Life Financial INC now owns 2,796 shares of the utilities provider’s stock worth $155,000 after purchasing an additional 1,261 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of ONEOK during the third quarter worth approximately $169,000. Smithfield Trust Co. increased its position in shares of ONEOK by 85.3% during the third quarter. Smithfield Trust Co. now owns 3,695 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Sii Investments Inc. WI purchased a new stake in shares of ONEOK during the third quarter worth approximately $207,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.
Several analysts recently commented on OKE shares. BMO Capital Markets reiterated a “buy” rating and set a $64.00 price target on shares of ONEOK in a research report on Tuesday, January 16th. UBS Group restated a “buy” rating and issued a $72.00 target price (up from $70.00) on shares of ONEOK in a report on Friday. TheStreet cut ONEOK from a “b” rating to a “c+” rating in a report on Monday, February 26th. Robert W. Baird set a $55.00 target price on ONEOK and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $61.00 target price (up from $55.00) on shares of ONEOK in a report on Wednesday, February 28th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. ONEOK has an average rating of “Hold” and an average price target of $61.00.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the company posted $0.43 EPS. equities research analysts anticipate that ONEOK, Inc. will post 2.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Friday, January 26th. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio is 231.58%.
ILLEGAL ACTIVITY WARNING: This story was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2018/03/05/sei-investments-co-reduces-position-in-oneok-inc-oke.html.
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.
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.