Arizona State Retirement System trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 101,022 shares of the utilities provider’s stock after selling 829 shares during the quarter. Arizona State Retirement System’s holdings in ONEOK were worth $7,054,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of ONEOK by 11.9% during the first quarter. BlackRock Inc. now owns 33,352,781 shares of the utilities provider’s stock valued at $1,898,440,000 after acquiring an additional 3,549,791 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of ONEOK by 9.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,384,905 shares of the utilities provider’s stock valued at $591,089,000 after acquiring an additional 888,500 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of ONEOK by 7.9% during the first quarter. Neuberger Berman Group LLC now owns 8,797,562 shares of the utilities provider’s stock valued at $500,806,000 after acquiring an additional 641,764 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of ONEOK by 6,007.8% during the first quarter. Summit Trail Advisors LLC now owns 4,703,755 shares of the utilities provider’s stock valued at $4,704,000 after acquiring an additional 4,626,743 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of ONEOK by 3.9% during the first quarter. Northern Trust Corp now owns 4,453,737 shares of the utilities provider’s stock valued at $253,508,000 after acquiring an additional 167,006 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Royal Bank of Canada upped their price objective on shares of ONEOK from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 6th. Zacks Investment Research downgraded shares of ONEOK from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 19th. Barclays upped their price objective on shares of ONEOK from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Finally, US Capital Advisors reiterated a “buy” rating on shares of ONEOK in a research report on Tuesday, July 17th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. ONEOK currently has an average rating of “Buy” and an average price target of $69.00.
Shares of NYSE OKE opened at $67.47 on Wednesday. ONEOK, Inc. has a 1 year low of $49.65 and a 1 year high of $71.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.40 and a current ratio of 0.56. The stock has a market cap of $27.77 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.62 and a beta of 1.02.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. ONEOK had a net margin of 6.07% and a return on equity of 14.70%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.20 billion. equities analysts predict that ONEOK, Inc. will post 2.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, August 6th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $3.30 annualized dividend and a dividend yield of 4.89%. This is a boost from ONEOK’s previous quarterly dividend of $0.80. ONEOK’s payout ratio is currently 187.50%.
In related news, Director Brian L. Derksen purchased 1,500 shares of ONEOK stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $67.60 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at $344,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.
ONEOK Company Profile
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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