Public Employees Retirement Association of Colorado decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 44,337 shares of the utilities provider’s stock after selling 35 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ONEOK were worth $2,313,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Strs Ohio increased its position in ONEOK by 20.8% in the second quarter. Strs Ohio now owns 13,864 shares of the utilities provider’s stock worth $723,000 after buying an additional 2,390 shares during the period. Meridian Wealth Management LLC increased its position in ONEOK by 2.6% in the second quarter. Meridian Wealth Management LLC now owns 8,185 shares of the utilities provider’s stock worth $427,000 after buying an additional 205 shares during the period. Hartford Investment Management Co. increased its position in ONEOK by 75.1% in the second quarter. Hartford Investment Management Co. now owns 83,688 shares of the utilities provider’s stock worth $4,365,000 after buying an additional 35,891 shares during the period. Personal Capital Advisors Corp increased its position in ONEOK by 1,377.3% in the second quarter. Personal Capital Advisors Corp now owns 118,245 shares of the utilities provider’s stock worth $6,168,000 after buying an additional 110,241 shares during the period. Finally, ING Groep NV purchased a new position in ONEOK during the second quarter worth $404,000. Institutional investors own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) opened at 52.76 on Thursday. The stock has a 50 day moving average price of $52.90 and a 200 day moving average price of $53.07. ONEOK, Inc. has a 52 week low of $44.98 and a 52 week high of $59.47. The stock has a market capitalization of $20.05 billion, a P/E ratio of 33.06 and a beta of 1.31.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post $1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.745 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Thursday, August 3rd. ONEOK’s payout ratio is presently 186.25%.
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OKE has been the topic of a number of research reports. Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 5th. BidaskClub raised ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, June 21st. Zacks Investment Research downgraded ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, BMO Capital Markets raised ONEOK from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $53.00 to $59.00 in a research note on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and an average target price of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.
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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