Parametric Portfolio Associates LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,155,898 shares of the utilities provider’s stock after purchasing an additional 78,777 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in ONEOK were worth $79,537,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Financial Partners Inc. increased its stake in ONEOK by 712.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,089 shares of the utilities provider’s stock worth $213,000 after purchasing an additional 2,709 shares in the last quarter. D.A. Davidson & CO. increased its stake in ONEOK by 10.8% in the 2nd quarter. D.A. Davidson & CO. now owns 35,746 shares of the utilities provider’s stock worth $2,460,000 after purchasing an additional 3,489 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in ONEOK by 20.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 22,384 shares of the utilities provider’s stock worth $1,540,000 after purchasing an additional 3,792 shares in the last quarter. Tyers Asset Management LLC increased its stake in ONEOK by 20.4% in the 2nd quarter. Tyers Asset Management LLC now owns 39,172 shares of the utilities provider’s stock worth $2,695,000 after purchasing an additional 6,636 shares in the last quarter. Finally, Krane Funds Advisors LLC purchased a new position in ONEOK in the 2nd quarter worth about $27,000. 74.45% of the stock is currently owned by hedge funds and other institutional investors.
OKE has been the topic of a number of analyst reports. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Credit Suisse Group lifted their price target on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Argus lifted their target price on ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Mitsubishi UFJ Financial Group lifted their target price on ONEOK to $77.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. ONEOK presently has a consensus rating of “Hold” and a consensus target price of $72.37.
NYSE:OKE traded up $0.63 on Friday, hitting $74.56. 847,636 shares of the company’s stock traded hands, compared to its average volume of 1,775,139. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $74.65. The firm has a 50-day moving average price of $69.81 and a 200-day moving average price of $68.30. The company has a market cap of $30.36 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, research analysts forecast that ONEOK, Inc. will post 3.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.89 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.56 annualized dividend and a dividend yield of 4.77%. ONEOK’s payout ratio is presently 128.06%.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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