Ethic Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 62.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,061 shares of the utilities provider’s stock after acquiring an additional 8,493 shares during the period. Ethic Inc.’s holdings in ONEOK were worth $1,227,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $85,000. Corsicana & Co. acquired a new position in shares of ONEOK during the 2nd quarter worth $28,000. Burleson & Company LLC purchased a new stake in shares of ONEOK in the 1st quarter worth about $29,000. First National Bank of South Miami boosted its position in shares of ONEOK by 253.5% in the 1st quarter. First National Bank of South Miami now owns 760 shares of the utilities provider’s stock worth $39,000 after buying an additional 545 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in ONEOK by 32.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research report on Friday, July 23rd. Wells Fargo & Company raised their target price on ONEOK from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. raised their price target on ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 8th. Credit Suisse Group lifted their price target on ONEOK from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, August 9th. Finally, Morgan Stanley raised their price objective on ONEOK from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.27.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.01 billion. ONEOK had a return on equity of 22.30% and a net margin of 11.90%. On average, sell-side analysts expect that ONEOK, Inc. will post 3.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were paid a $0.935 dividend. The ex-dividend date was Friday, July 30th. This represents a $3.74 annualized dividend and a yield of 7.05%. ONEOK’s payout ratio is 263.38%.
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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