Zevin Asset Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, HoldingsChannel reports. The firm bought 3,260 shares of the utilities provider’s stock, valued at approximately $228,000.
Several other hedge funds also recently made changes to their positions in OKE. Dixon Hubard Feinour & Brown Inc. VA lifted its holdings in ONEOK by 16.5% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 29,717 shares of the utilities provider’s stock valued at $2,075,000 after buying an additional 4,215 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in ONEOK by 84.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 19,810 shares of the utilities provider’s stock valued at $1,383,000 after buying an additional 9,050 shares during the period. Personal Capital Advisors Corp lifted its holdings in ONEOK by 12.1% in the second quarter. Personal Capital Advisors Corp now owns 360,973 shares of the utilities provider’s stock valued at $25,207,000 after buying an additional 39,006 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in ONEOK by 2.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 60,264 shares of the utilities provider’s stock valued at $3,430,000 after buying an additional 1,200 shares during the period. Finally, CAPROCK Group Inc. lifted its holdings in ONEOK by 14.0% in the second quarter. CAPROCK Group Inc. now owns 10,267 shares of the utilities provider’s stock valued at $717,000 after buying an additional 1,262 shares during the period. Institutional investors own 73.67% of the company’s stock.
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Barclays increased their target price on shares of ONEOK from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Zacks Investment Research lowered shares of ONEOK from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 19th. Jefferies Financial Group lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Seaport Global Securities set a $73.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a research report on Friday, July 27th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. ONEOK presently has a consensus rating of “Buy” and a consensus price target of $69.00.
In other ONEOK news, Director Brian L. Derksen bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average price of $67.60 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at $344,760. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.
ONEOK stock opened at $67.57 on Monday. The firm has a market capitalization of $28.34 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.02. ONEOK, Inc. has a 1-year low of $49.65 and a 1-year high of $71.99. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.04.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, July 31st. The utilities provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.20 billion. ONEOK had a net margin of 6.07% and a return on equity of 14.70%. research analysts anticipate that ONEOK, Inc. will post 2.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, August 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 4.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.80. ONEOK’s dividend payout ratio (DPR) is 187.50%.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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