Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Lowers Position in ONEOK, Inc. (OKE)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,570 shares of the utilities provider’s stock after selling 1,510 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ONEOK were worth $1,699,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in OKE. BlackRock Inc. raised its position 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 acquired a new position in ONEOK during the first quarter valued at approximately $90,888,000. Janus Capital Management LLC raised its position 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 raised its position 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 acquired a new position in ONEOK during the first quarter valued at approximately $58,755,000. Institutional investors and hedge funds own 80.89% of the company’s stock.
ONEOK, Inc. (NYSE:OKE) opened at 50.36 on Friday. The company has a 50-day moving average of $53.25 and a 200 day moving average of $52.92. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47. The stock has a market cap of $19.14 billion, a P/E ratio of 31.55 and a beta of 1.31.
ONEOK (NYSE:OKE) last announced its quarterly 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. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period in the previous year, the firm posted $0.40 EPS. Analysts predict that ONEOK, Inc. will post $1.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.745 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, August 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.92%. ONEOK’s payout ratio is presently 186.25%.
OKE has been the subject of several research reports. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, June 21st. BidaskClub upgraded shares of ONEOK from a “strong sell” rating to a “sell” rating in a 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 for the company. in a report on Wednesday, July 5th. Royal Bank Of Canada restated a “hold” rating and issued a $58.00 target price on shares of ONEOK in a report on Friday, May 12th. Finally, Zacks Investment Research lowered shares of ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. ONEOK 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 value of $100,680.00. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at $912,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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