E Fund Management Co. Ltd. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 782 shares of the utilities provider’s stock, valued at approximately $40,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Group LLC bought a new position in ONEOK during the first quarter worth $25,000. Klaas Financial Asset Advisors LLC bought a new position in shares of ONEOK in the fourth quarter valued at $28,000. Burleson & Company LLC bought a new position in shares of ONEOK in the first quarter valued at $29,000. City Holding Co. bought a new position in shares of ONEOK in the first quarter valued at $30,000. Finally, Denali Advisors LLC bought a new position in shares of ONEOK in the first quarter valued at $30,000. 63.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on OKE shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of ONEOK from $49.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 4th. Raymond James raised their price objective on shares of ONEOK from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a report on Wednesday, April 28th. Finally, Morgan Stanley upgraded shares of ONEOK from an “underweight” rating to an “equal weight” rating and set a $55.00 target price for the company in a report on Wednesday, May 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.59.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. ONEOK had a net margin of 11.88% and a return on equity of 18.61%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company posted $0.83 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 3.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, April 26th were paid a $0.935 dividend. The ex-dividend date of this dividend was Friday, April 23rd. This represents a $3.74 annualized dividend and a dividend yield of 6.83%. ONEOK’s payout ratio is 263.38%.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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