Stearns Financial Services Group maintained its position in ONEOK, Inc. (NYSE:OKE) during the second quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the utilities provider’s stock at the end of the second quarter. Stearns Financial Services Group’s holdings in ONEOK were worth $209,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in ONEOK by 2.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,285,153 shares of the utilities provider’s stock worth $67,034,000 after buying an additional 25,846 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in ONEOK by 12.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,853 shares of the utilities provider’s stock worth $462,000 after buying an additional 1,007 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in ONEOK by 65.1% in the second quarter. New Mexico Educational Retirement Board now owns 35,260 shares of the utilities provider’s stock worth $1,995,000 after buying an additional 13,900 shares during the last quarter. Aveo Capital Partners LLC boosted its position in ONEOK by 15.7% in the second quarter. Aveo Capital Partners LLC now owns 7,909 shares of the utilities provider’s stock worth $413,000 after buying an additional 1,075 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its position in ONEOK by 87.3% in the second quarter. Cigna Investments Inc. New now owns 16,362 shares of the utilities provider’s stock worth $853,000 after buying an additional 7,626 shares during the last quarter. 80.89% of the stock is currently owned by institutional investors.
Shares of ONEOK, Inc. (NYSE OKE) opened at 52.76 on Thursday. The company’s 50 day moving average is $52.90 and its 200-day moving average is $53.07. ONEOK, Inc. has a 1-year low of $44.98 and a 1-year high of $59.47. The stock has a market capitalization of $20.05 billion, a price-to-earnings ratio of 33.06 and a beta of 1.31.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by $0.12. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities analysts anticipate that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.745 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Thursday, August 3rd. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
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A number of research firms have commented on OKE. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Credit Suisse Group decreased their target price on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. Morgan Stanley cut 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. Finally, BMO Capital Markets raised shares of ONEOK from a “market perform” rating to an “outperform” rating and upped their target price for the company from $53.00 to $59.00 in a research report on Wednesday, July 5th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ONEOK has an average rating of “Hold” and a consensus target price of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $912,412.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.
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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