Smithfield Trust Co. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 107.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,994 shares of the utilities provider’s stock after buying an additional 1,034 shares during the period. Smithfield Trust Co.’s holdings in ONEOK were worth $104,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV bought a new stake in ONEOK during the first quarter worth approximately $100,000. Delta Asset Management LLC TN acquired a new stake in shares of ONEOK during the second quarter valued at approximately $103,000. Huntington National Bank raised its stake 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 valued at $122,000 after buying an additional 554 shares during the last quarter. Financial Architects Inc raised its stake 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 valued at $208,000 after buying an additional 2,340 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its stake 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 valued at $210,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
ONEOK, Inc. (NYSE:OKE) opened at 52.76 on Thursday. The firm has a market capitalization of $20.05 billion, a P/E ratio of 33.06 and a beta of 1.31. The company’s 50-day moving average price is $52.90 and its 200-day moving average price is $53.07. ONEOK, Inc. has a 1-year low of $44.98 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities research analysts expect that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.65%. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, August 3rd. ONEOK’s payout ratio is presently 186.25%.
Several equities research analysts recently commented on OKE shares. Argus upgraded 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. Guggenheim started coverage on ONEOK in a research report on Monday, April 17th. They set a “buy” rating and a $62.00 target price on the stock. UBS AG upgraded ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $59.00 in a research report on Wednesday, June 14th. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Morgan Stanley lowered 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. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.
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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