Blackhill Capital Inc. lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,346 shares of the utilities provider’s stock after selling 1,462 shares during the period. Blackhill Capital Inc.’s holdings in ONEOK were worth $815,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in ONEOK by 7.2% during the 1st quarter. State Street Corp now owns 23,288,906 shares of the utilities provider’s stock worth $507,931,000 after purchasing an additional 1,554,211 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ONEOK by 23.3% during the 1st quarter. Bank of New York Mellon Corp now owns 7,107,116 shares of the utilities provider’s stock worth $155,006,000 after buying an additional 1,344,145 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 6,405,672 shares of the utilities provider’s stock worth $483,721,000 after buying an additional 279,184 shares during the last quarter. Capital Research Global Investors lifted its stake in ONEOK by 11.8% in the 4th quarter. Capital Research Global Investors now owns 3,728,998 shares of the utilities provider’s stock valued at $282,173,000 after purchasing an additional 393,054 shares during the last quarter. Finally, Norges Bank acquired a new stake in ONEOK in the 4th quarter valued at about $273,719,000. Hedge funds and other institutional investors own 69.57% of the company’s stock.
OKE has been the subject of several recent analyst reports. Stifel Nicolaus cut their target price on shares of ONEOK from $56.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Friday, May 22nd. Goldman Sachs Group downgraded shares of ONEOK from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Monday, April 20th. Jefferies Financial Group downgraded shares of ONEOK from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Thursday, April 30th. Finally, Edward Jones upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Monday, March 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.40.
NYSE:OKE traded up $0.68 during mid-day trading on Monday, reaching $37.37. The stock had a trading volume of 1,956,134 shares, compared to its average volume of 5,279,143. The stock has a 50-day simple moving average of $30.89 and a two-hundred day simple moving average of $55.72. The stock has a market capitalization of $15.19 billion, a PE ratio of 18.96, a P/E/G ratio of 2.16 and a beta of 2.21. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.36 and a quick ratio of 1.01. ONEOK, Inc. has a 12 month low of $12.16 and a 12 month high of $78.48.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.52 billion. ONEOK had a net margin of 8.40% and a return on equity of 21.11%. During the same period last year, the firm posted $0.81 earnings per share. Equities analysts expect that ONEOK, Inc. will post 2.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, April 27th were paid a dividend of $0.935 per share. The ex-dividend date was Friday, April 24th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 10.01%. ONEOK’s payout ratio is presently 121.82%.
In other ONEOK news, Chairman John William Gibson purchased 32,980 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $15.37 per share, for a total transaction of $506,902.60. Also, Director Brian L. Derksen purchased 8,700 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were acquired at an average price of $22.70 per share, for a total transaction of $197,490.00. Following the acquisition, the director now owns 13,800 shares of the company’s stock, valued at approximately $313,260. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 156,887 shares of company stock worth $3,513,025. Insiders own 0.60% of the company’s stock.
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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