Advisor Partners LLC Cuts Stake in ONEOK, Inc. (OKE)

Advisor Partners LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 8,018 shares of the utilities provider’s stock after selling 626 shares during the period. Advisor Partners LLC’s holdings in ONEOK were worth $418,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares during the period. Renaissance Technologies LLC bought a new position in shares of ONEOK during the first quarter worth approximately $90,888,000. Janus Capital Management LLC raised its position in shares of ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock worth $150,838,000 after buying an additional 1,204,683 shares during the period. Neuberger Berman Group LLC raised its position in shares of ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock worth $475,243,000 after buying an additional 1,190,284 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of ONEOK during the first quarter worth approximately $58,755,000. 80.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of ONEOK, Inc. (NYSE:OKE) opened at 52.76 on Thursday. ONEOK, Inc. has a 52 week low of $44.98 and a 52 week high of $59.47. The firm has a market capitalization of $20.05 billion, a P/E ratio of 33.06 and a beta of 1.31. The firm has a 50-day moving average of $52.90 and a 200 day moving average of $53.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the company earned $0.40 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post $1.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s payout ratio is 186.25%.

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A number of equities analysts have recently commented on OKE shares. Argus raised shares of 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. BidaskClub raised shares of ONEOK from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Morgan Stanley lowered shares of 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. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of ONEOK in a research report on Monday, April 17th. Finally, Guggenheim started coverage on shares of ONEOK in a research report on Monday, April 17th. They set a “buy” rating and a $62.00 target price on the stock. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.15.

In other ONEOK 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 transaction of $100,680.00. Following the completion of the transaction, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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