State Board of Administration of Florida Retirement System Has $16.68 Million Stake in ONEOK, Inc. (OKE)
State Board of Administration of Florida Retirement System raised its position in ONEOK, Inc. (NYSE:OKE) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 319,726 shares of the utilities provider’s stock after buying an additional 5,312 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of ONEOK worth $16,677,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its stake in ONEOK by 3.9% in the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock valued at $1,285,939,000 after buying an additional 875,668 shares during the last quarter. BlackRock Inc. boosted 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 last quarter. State Street Corp boosted its stake in ONEOK by 6.1% in the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock valued at $628,143,000 after buying an additional 649,957 shares during the last quarter. Neuberger Berman Group LLC boosted 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 last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 during the last quarter. 51.23% of the stock is owned by institutional investors.
ONEOK, Inc. (OKE) opened at 53.66 on Monday. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47. The company has a market cap of $20.39 billion, a P/E ratio of 33.62 and a beta of 1.31. The firm has a 50-day moving average price of $53.33 and a 200-day moving average price of $52.81.
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 Zacks’ 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 company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, analysts forecast that ONEOK, Inc. will post $1.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.55%. This is a boost from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 186.25%.
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A number of research firms have recently issued reports on OKE. Argus reiterated a “buy” rating and issued a $59.00 price objective (up from $55.00) on shares of ONEOK in a report on Thursday. Credit Suisse Group lowered their target price on shares of 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 shares of ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Morgan Stanley downgraded shares of 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. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $58.00 price objective on shares of ONEOK in a report on Friday, May 12th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.46.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% 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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