Everence Capital Management Inc. Increases Position in ONEOK, Inc. (OKE)
Everence Capital Management Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 41.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,236 shares of the utilities provider’s stock after buying an additional 3,270 shares during the period. Everence Capital Management Inc.’s holdings in ONEOK were worth $586,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in OKE. BlackRock Inc. boosted its stake 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 valued at $1,036,584,000 after buying an additional 18,091,903 shares during the last quarter. Renaissance Technologies LLC purchased a new position in ONEOK during the first quarter valued at about $90,888,000. Bank of New York Mellon Corp boosted its position in ONEOK by 25.1% in the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock valued at $356,012,000 after buying an additional 1,369,438 shares in the last quarter. Janus Capital Management LLC boosted 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 in the last quarter. Finally, Neuberger Berman Group LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (NYSE OKE) opened at 50.93 on Monday. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 31.91 and a beta of 1.31. The company has a 50-day moving average of $53.23 and a 200 day moving average of $52.90. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the business posted $0.40 EPS. On average, equities analysts forecast that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.745 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 5.85%. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio (DPR) is 186.25%.
Several equities analysts recently issued reports on OKE shares. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a research note on Wednesday, July 5th. BidaskClub upgraded shares of ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, BMO Capital Markets upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $53.00 to $59.00 in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. 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 firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the sale, 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 SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.
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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