Herold Advisors Inc. Buys 978 Shares of ONEOK, Inc. (NYSE:OKE)

Herold Advisors Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 2.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,758 shares of the utilities provider’s stock after acquiring an additional 978 shares during the period. ONEOK makes up approximately 1.0% of Herold Advisors Inc.’s holdings, making the stock its 25th biggest position. Herold Advisors Inc.’s holdings in ONEOK were worth $2,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in ONEOK by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after acquiring an additional 1,043,147 shares during the period. BlackRock Inc. lifted its stake in ONEOK by 6.1% during the 4th quarter. BlackRock Inc. now owns 45,529,862 shares of the utilities provider’s stock valued at $2,675,334,000 after acquiring an additional 2,614,981 shares during the period. State Street Corp lifted its stake in shares of ONEOK by 4.8% in the 1st quarter. State Street Corp now owns 32,825,649 shares of the utilities provider’s stock worth $2,318,476,000 after purchasing an additional 1,493,647 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock worth $514,810,000 after purchasing an additional 527,138 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of ONEOK by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,539,398 shares of the utilities provider’s stock worth $461,877,000 after purchasing an additional 302,211 shares during the period. Institutional investors own 66.82% of the company’s stock.

ONEOK Price Performance

OKE traded down $4.86 during trading on Friday, reaching $52.76. 4,628,885 shares of the company traded hands, compared to its average volume of 2,766,821. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.62 and a current ratio of 0.83. ONEOK, Inc. has a 12-month low of $51.88 and a 12-month high of $75.07. The firm has a fifty day simple moving average of $61.12 and a 200 day simple moving average of $63.32. The company has a market cap of $23.58 billion, a P/E ratio of 14.99, a PEG ratio of 2.09 and a beta of 1.68.

ONEOK (NYSE:OKEGet Rating) last posted its earnings results on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). ONEOK had a net margin of 7.37% and a return on equity of 26.32%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year. On average, equities analysts forecast that ONEOK, Inc. will post 3.71 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were issued a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date was Friday, July 29th. ONEOK’s dividend payout ratio (DPR) is presently 106.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Barclays lowered their price objective on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Mizuho increased their price objective on shares of ONEOK from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 10th. Finally, US Capital Advisors restated an “overweight” rating on shares of ONEOK in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.42.

About ONEOK

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ONEOK, Inc, together with its subsidiaries, engages in 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.

See Also

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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