Aberdeen Asset Management PLC UK Boosts Stake in ONEOK, Inc. (OKE)
Aberdeen Asset Management PLC UK lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 14.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 221,555 shares of the utilities provider’s stock after buying an additional 27,344 shares during the quarter. Aberdeen Asset Management PLC UK owned about 0.06% of ONEOK worth $11,556,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Delta Asset Management LLC TN acquired a new stake in shares of ONEOK during the second quarter worth $103,000. Smithfield Trust Co. lifted its holdings in shares of ONEOK by 107.7% during the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,034 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of ONEOK by 83.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,403 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of ONEOK by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of ONEOK by 5,543.1% during the first quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock worth $214,000 after buying an additional 3,991 shares in the last quarter. 51.23% of the stock is owned by institutional investors.
ONEOK, Inc. (NYSE OKE) opened at 56.09 on Wednesday. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47. The company has a 50-day moving average price of $53.92 and a 200-day moving average price of $52.82. The firm has a market cap of $21.31 billion, a P/E ratio of 35.14 and a beta of 1.32.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period last year, the company posted $0.40 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post $1.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued 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 dividend on an annualized basis and a yield of 5.31%. ONEOK’s dividend payout ratio is 186.25%.
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In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
A number of research firms have recently weighed in on OKE. BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. BMO Capital Markets raised ONEOK from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $53.00 to $59.00 in a report on Wednesday, July 5th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, June 21st. Finally, Barclays PLC began coverage on ONEOK in a report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.57.
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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