Ballentine Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,591 shares of the utilities provider’s stock, valued at approximately $1,427,000.
Other large investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in ONEOK by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 291,579 shares of the utilities provider’s stock valued at $16,740,000 after buying an additional 23,741 shares during the last quarter. Macquarie Group Ltd. increased its stake in ONEOK by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 67,500 shares of the utilities provider’s stock valued at $3,875,000 after buying an additional 2,020 shares during the last quarter. National Pension Service increased its stake in ONEOK by 16,329.9% in the first quarter. National Pension Service now owns 209,810 shares of the utilities provider’s stock valued at $11,523,000 after buying an additional 208,533 shares during the last quarter. Capstone Asset Management Co. increased its stake in ONEOK by 0.4% in the first quarter. Capstone Asset Management Co. now owns 18,444 shares of the utilities provider’s stock valued at $1,023,000 after buying an additional 80 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in ONEOK during the first quarter valued at $510,000. 80.89% of the stock is owned by institutional investors and hedge funds.
Shares of ONEOK, Inc. (NYSE:OKE) opened at 50.36 on Friday. The firm has a market capitalization of $19.14 billion, a P/E ratio of 31.55 and a beta of 1.31. The firm has a 50-day moving average of $53.25 and a 200-day moving average of $52.92. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the business posted $0.40 EPS. On average, equities analysts predict that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a dividend of $0.745 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 5.92%. This is a boost from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio (DPR) is 186.25%.
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OKE has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 price objective on shares of ONEOK in a report on Friday, May 12th. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. Jefferies Group LLC set a $51.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a report on Friday, June 16th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, June 21st. Finally, Stifel Nicolaus initiated coverage on shares of ONEOK in a report on Monday, June 26th. They issued a “hold” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the transaction, the director now owns 18,125 shares in the company, valued at $912,412.50. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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