Quadrature Capital Ltd purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,824 shares of the utilities provider’s stock, valued at approximately $1,090,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in ONEOK by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 51,850,265 shares of the utilities provider’s stock worth $1,722,467,000 after buying an additional 2,370,633 shares during the last quarter. State Street Corp increased its holdings in shares of ONEOK by 7.2% during the 1st quarter. State Street Corp now owns 23,288,906 shares of the utilities provider’s stock valued at $507,931,000 after purchasing an additional 1,554,211 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ONEOK by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,494,027 shares of the utilities provider’s stock valued at $282,171,000 after purchasing an additional 1,386,911 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 6,488,869 shares of the utilities provider’s stock valued at $141,243,000 after purchasing an additional 83,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 51.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,271,585 shares of the utilities provider’s stock valued at $175,123,000 after purchasing an additional 1,792,621 shares in the last quarter. 66.65% of the stock is owned by institutional investors.
OKE traded down $0.15 on Friday, hitting $26.76. 3,424,920 shares of the company’s stock were exchanged, compared to its average volume of 3,792,756. ONEOK, Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $78.48. The company has a current ratio of 1.71, a quick ratio of 1.31 and a debt-to-equity ratio of 2.30. The firm has a 50-day moving average price of $28.50 and a 200-day moving average price of $34.88. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.87 and a beta of 2.06.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.19). The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $2.32 billion. ONEOK had a net margin of 7.13% and a return on equity of 18.28%. The company’s revenue was down 32.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, equities analysts predict that ONEOK, Inc. will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.74 annualized dividend and a dividend yield of 13.98%. ONEOK’s payout ratio is 121.82%.
OKE has been the subject of several recent research reports. Mizuho cut their target price on shares of ONEOK from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, May 22nd. Stifel Nicolaus cut their target price on shares of ONEOK from $38.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Bank of America lowered shares of ONEOK from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Thursday, June 11th. Finally, Argus lowered shares of ONEOK from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $40.80.
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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