ONEOK, Inc. (OKE) Shares Sold by HL Financial Services LLC
HL Financial Services LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 21.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,975 shares of the utilities provider’s stock after selling 1,060 shares during the period. HL Financial Services LLC’s holdings in ONEOK were worth $207,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of OKE. BlackRock Inc. increased its stake in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after buying an additional 18,091,903 shares during the period. Renaissance Technologies LLC purchased a new stake in ONEOK during the first quarter valued at $90,888,000. Janus Capital Management LLC increased its stake in ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock valued at $150,838,000 after buying an additional 1,204,683 shares during the period. Neuberger Berman Group LLC increased its stake in ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after buying an additional 1,190,284 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in ONEOK during the first quarter valued at $58,755,000. 80.89% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (OKE) opened at 50.61 on Thursday. The company’s 50-day moving average price is $53.26 and its 200 day moving average price is $52.94. The company has a market capitalization of $19.23 billion, a price-to-earnings ratio of 31.71 and a beta of 1.31. ONEOK, Inc. has a 12 month low of $45.41 and a 12 month high of $59.47.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.12. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. Analysts forecast that ONEOK, Inc. will post $1.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.89%. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, August 3rd. ONEOK’s dividend payout ratio is presently 186.25%.
OKE has been the topic of several recent research reports. Credit Suisse Group cut their price objective on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Zacks Investment Research downgraded ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price objective on shares of ONEOK in a report on Friday, May 12th. Finally, BidaskClub raised ONEOK from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.15.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 18,125 shares in the company, valued at $912,412.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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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