ONEOK, Inc. (OKE) Shares Sold by Riverhead Capital Management LLC
Riverhead Capital Management LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,523 shares of the utilities provider’s stock after selling 8,129 shares during the quarter. Riverhead Capital Management LLC’s holdings in ONEOK were worth $5,347,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Delta Asset Management LLC TN bought a new stake in shares of ONEOK in the 2nd quarter valued at about $103,000. Smithfield Trust Co. raised its holdings in shares of ONEOK by 107.7% in the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,034 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in shares of ONEOK by 83.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 1,403 shares during the period. Pacer Advisors Inc. raised its holdings in shares of ONEOK by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,913 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 121 shares during the period. Finally, Trust Co. of Virginia VA bought a new stake in shares of ONEOK in the 1st quarter valued at about $222,000. 51.23% of the stock is currently owned by institutional investors.
Shares of ONEOK, Inc. (NYSE OKE) traded down 0.04% on Tuesday, hitting $56.50. 61,641 shares of the company’s stock were exchanged. The firm has a market cap of $21.47 billion, a P/E ratio of 35.40 and a beta of 1.32. The stock’s 50 day moving average is $53.84 and its 200 day moving average is $52.79. 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 during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm earned $0.40 EPS. On average, equities analysts predict that ONEOK, Inc. will post $1.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.745 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.27%. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s payout ratio is 186.25%.
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A number of brokerages have recently issued reports on OKE. BidaskClub raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Credit Suisse Group dropped 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. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $58.00 target price on shares of ONEOK in a report on Monday. Argus reaffirmed a “buy” rating and issued a $59.00 target price (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $59.00 in a report on Wednesday, June 14th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.57.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $50.34, for a total value of $100,680.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. 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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