Gamco Investors INC. ET AL cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,650 shares of the utilities provider’s stock after selling 24,000 shares during the period. Gamco Investors INC. ET AL’s holdings in ONEOK were worth $14,151,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OKE. BlackRock Inc. raised its stake in ONEOK by 7.9% during the first quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock worth $3,115,917,000 after purchasing an additional 3,261,539 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ONEOK by 39.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,650,200 shares of the utilities provider’s stock valued at $89,021,000 after acquiring an additional 465,583 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ONEOK by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock valued at $287,526,000 after acquiring an additional 415,385 shares during the last quarter. RR Advisors LLC increased its position in shares of ONEOK by 329.3% during the first quarter. RR Advisors LLC now owns 498,000 shares of the utilities provider’s stock valued at $34,888,000 after acquiring an additional 382,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of ONEOK by 6.4% during the first quarter. Northern Trust Corp now owns 4,943,927 shares of the utilities provider’s stock valued at $345,285,000 after acquiring an additional 295,729 shares during the last quarter. 74.05% of the stock is currently owned by institutional investors.
ONEOK stock traded up $0.68 during trading on Tuesday, reaching $71.59. The stock had a trading volume of 18,148 shares, compared to its average volume of 2,194,175. ONEOK, Inc. has a 52-week low of $50.26 and a 52-week high of $72.38. The business has a 50 day moving average price of $69.42 and a 200 day moving average price of $67.78. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The stock has a market cap of $29.20 billion, a PE ratio of 25.72, a P/E/G ratio of 1.95 and a beta of 1.17.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. On average, equities analysts predict that ONEOK, Inc. will post 3.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.89 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.56 dividend on an annualized basis and a yield of 4.97%. This is an increase from ONEOK’s previous quarterly dividend of $0.87. ONEOK’s payout ratio is currently 128.06%.
A number of equities research analysts have weighed in on OKE shares. Seaport Global Securities cut shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price target for the company. in a research report on Monday, April 22nd. Mitsubishi UFJ Financial Group lifted their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Credit Suisse Group lifted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Monday, August 12th. Finally, Citigroup lifted their price objective on shares of ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $72.37.
ONEOK, Inc, together with its subsidiaries, engages in the 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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