BlackRock Inc. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,802,990 shares of the utilities provider’s stock after selling 96,546 shares during the quarter. BlackRock Inc. owned 7.26% of ONEOK worth $1,592,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Starr International Co. Inc. acquired a new position in ONEOK during the third quarter valued at approximately $8,089,000. New York State Common Retirement Fund grew its holdings in ONEOK by 1.6% during the third quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock valued at $30,625,000 after purchasing an additional 8,800 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in ONEOK by 3.3% during the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after purchasing an additional 300,031 shares during the last quarter. Shell Asset Management Co. grew its holdings in ONEOK by 240.1% during the third quarter. Shell Asset Management Co. now owns 47,465 shares of the utilities provider’s stock valued at $3,111,000 after purchasing an additional 33,507 shares during the last quarter. Finally, Lincoln National Corp acquired a new position in ONEOK during the third quarter valued at approximately $374,000. 68.50% of the stock is owned by institutional investors and hedge funds.
Shares of ONEOK, Inc. (NYSE:OKE) traded down $0.64 during trading hours on Wednesday, reaching $57.16. The company’s stock had a trading volume of 2,300,000 shares, compared to its average volume of 2,690,000. The company has a market cap of $23,470.00, a PE ratio of 58.93, a P/E/G ratio of 2.91 and a beta of 1.26. ONEOK, Inc. has a 12-month low of $47.14 and a 12-month high of $61.36. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.66 and a quick ratio of 0.50.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $4.10 billion. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. During the same period in the previous year, the business posted $0.43 EPS. sell-side analysts expect that ONEOK, Inc. will post 2.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th were given a dividend of $0.77 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Friday, January 26th. ONEOK’s payout ratio is presently 317.53%.
In other news, VP Sheppard F. Miers III sold 2,200 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following the completion of the transaction, the vice president now directly owns 31,244 shares in the company, valued at approximately $1,771,534.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on OKE. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday. BMO Capital Markets set a $68.00 price objective on shares of ONEOK and gave the stock a “buy” rating in a research note on Thursday, March 8th. UBS Group restated a “buy” rating and issued a $72.00 price objective (up previously from $70.00) on shares of ONEOK in a research note on Friday, March 2nd. Robert W. Baird set a $55.00 price target on shares of ONEOK and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $61.00 price target (up previously from $55.00) on shares of ONEOK in a research note on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. ONEOK currently has a consensus rating of “Buy” and an average price target of $61.29.
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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