Trust Co. of Virginia VA Holds Stake in ONEOK, Inc. (OKE)
Trust Co. of Virginia VA held its stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the utilities provider’s stock at the end of the second quarter. Trust Co. of Virginia VA’s holdings in ONEOK were worth $209,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 3.9% during the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock worth $1,285,939,000 after buying an additional 875,668 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ONEOK by 2,987.9% during the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares during the last quarter. State Street Corp lifted its holdings in shares of ONEOK by 6.1% during the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock worth $628,143,000 after buying an additional 649,957 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of ONEOK by 6.1% during the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ONEOK by 25.1% during the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock worth $356,012,000 after buying an additional 1,369,438 shares during the last quarter. Institutional investors own 51.23% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) traded up 0.69% on Monday, hitting $56.61. The company had a trading volume of 265,583 shares. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47. The firm has a 50-day moving average price of $53.84 and a 200 day moving average price of $52.81. The company has a market capitalization of $21.51 billion, a P/E ratio of 35.47 and a beta of 1.32.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter last year, the firm earned $0.40 earnings per share. Equities analysts expect that ONEOK, Inc. will post $1.68 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a $0.745 dividend. The ex-dividend date was Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a yield of 5.30%. ONEOK’s payout ratio is 186.25%.
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A number of research analysts have recently commented on OKE shares. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, June 21st. BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a report on Wednesday, July 5th. Zacks Investment Research lowered ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Jefferies Group LLC set a $51.00 price target on ONEOK and gave the stock a “hold” rating in a report on Friday, June 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.54.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’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 directly owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% 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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