Louisiana State Employees Retirement System boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 80.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,500 shares of the utilities provider’s stock after buying an additional 10,500 shares during the period. Louisiana State Employees Retirement System’s holdings in ONEOK were worth $1,226,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV bought a new position in shares of ONEOK during the first quarter worth about $100,000. Huntington National Bank raised its position in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares during the last quarter. Financial Architects Inc raised its position in shares of ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock worth $208,000 after buying an additional 2,340 shares during the last quarter. CHICAGO TRUST Co NA raised its position in shares of ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares during the last quarter. Finally, Agran Libbie bought a new position in shares of ONEOK during the first quarter worth about $213,000. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) traded up 1.13% during midday trading on Friday, reaching $50.93. 2,213,523 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $53.23 and a 200-day moving average price of $52.90. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47. The stock has a market cap of $19.35 billion, a P/E ratio of 31.91 and a beta of 1.31.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Thursday, August 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s payout ratio is 186.25%.
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OKE has been the topic of a number of research reports. BidaskClub upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS AG upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $59.00 in a research report on Wednesday, June 14th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, June 21st. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. ONEOK currently has an average rating of “Hold” and an average price target of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.
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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