Pacer Advisors Inc. boosted its position in ONEOK, Inc. (NYSE:OKE) by 244.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,338 shares of the utilities provider’s stock after buying an additional 45,662 shares during the quarter. Pacer Advisors Inc.’s holdings in ONEOK were worth $2,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Contravisory Investment Management Inc. lifted its position in ONEOK by 31.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,531 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 367 shares during the period. Gilman Hill Asset Management LLC increased its position in ONEOK by 2.2% in the first quarter. Gilman Hill Asset Management LLC now owns 17,579 shares of the utilities provider’s stock worth $383,000 after purchasing an additional 375 shares during the last quarter. Stokes Capital Advisors LLC increased its position in ONEOK by 1.0% in the second quarter. Stokes Capital Advisors LLC now owns 40,539 shares of the utilities provider’s stock worth $1,347,000 after purchasing an additional 395 shares during the last quarter. Laffer Investments increased its position in ONEOK by 4.5% during the first quarter. Laffer Investments now owns 9,159 shares of the utilities provider’s stock valued at $200,000 after acquiring an additional 398 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new position in ONEOK during the fourth quarter valued at $30,000. 64.75% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Citigroup downgraded shares of ONEOK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $36.00 in a report on Wednesday, June 3rd. Royal Bank of Canada increased their price target on shares of ONEOK from $31.00 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday. Credit Suisse Group downgraded shares of ONEOK from an “outperform” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Tuesday, May 5th. Finally, Morgan Stanley dropped their price objective on shares of ONEOK from $29.00 to $27.00 and set an “underweight” rating on the stock in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.35.
Shares of NYSE:OKE opened at $27.91 on Friday. The business has a 50-day moving average price of $31.00 and a 200 day moving average price of $43.17. The company has a current ratio of 1.71, a quick ratio of 1.01 and a debt-to-equity ratio of 2.30. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.78 and a beta of 2.19. ONEOK, Inc. has a 12-month low of $12.16 and a 12-month high of $78.48.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.19). The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $2.32 billion. ONEOK had a return on equity of 18.28% and a net margin of 7.13%. The firm’s revenue for the quarter was down 32.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 2.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 13.40%. The ex-dividend date of this dividend is Friday, July 31st. ONEOK’s payout ratio is 121.82%.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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