ONEOK, Inc. (NYSE:OKE) Position Increased by New Amsterdam Partners LLC NY
New Amsterdam Partners LLC NY boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,367 shares of the utilities provider’s stock after buying an additional 58 shares during the period. New Amsterdam Partners LLC NY’s holdings in ONEOK were worth $489,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank increased 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 period. Bright Rock Capital Management LLC increased its stake in shares of ONEOK by 11.8% in the first quarter. Bright Rock Capital Management LLC now owns 43,600 shares of the utilities provider’s stock valued at $2,417,000 after buying an additional 4,600 shares during the period. DnB Asset Management AS increased its stake in shares of ONEOK by 22.8% in the first quarter. DnB Asset Management AS now owns 19,392 shares of the utilities provider’s stock valued at $1,075,000 after buying an additional 3,600 shares during the period. OLD Second National Bank of Aurora increased its stake in shares of ONEOK by 0.4% in the first quarter. OLD Second National Bank of Aurora now owns 26,899 shares of the utilities provider’s stock valued at $1,491,000 after buying an additional 114 shares during the period. Finally, Howe & Rusling Inc. increased its stake in shares of ONEOK by 8.0% in the first quarter. Howe & Rusling Inc. now owns 143,668 shares of the utilities provider’s stock valued at $7,965,000 after buying an additional 10,622 shares during the period. 80.89% of the stock is owned by institutional investors and hedge funds.
ONEOK, Inc. (NYSE OKE) opened at 52.41 on Monday. ONEOK, Inc. has a 52 week low of $45.41 and a 52 week high of $59.47. The firm’s 50-day moving average price is $53.16 and its 200 day moving average price is $53.04. The company has a market capitalization of $19.92 billion, a PE ratio of 32.84 and a beta of 1.31.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last 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 business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 5.69%. This is an increase from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, August 3rd. ONEOK’s payout ratio is 186.25%.
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Several analysts have recently commented on the stock. Credit Suisse Group reduced their price objective on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of ONEOK in a research report on Monday, April 17th. Guggenheim assumed coverage on shares of ONEOK in a research report on Monday, April 17th. They set a “buy” rating and a $62.00 price objective for the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price objective on shares of ONEOK in a research report on Friday, May 12th. Finally, UBS AG upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $912,412.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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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