Virtus ETF Advisers LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 37,049 shares of the utilities provider’s stock, valued at approximately $2,549,000.
Several other institutional investors have also recently bought and sold shares of OKE. Krane Funds Advisors LLC purchased a new stake in shares of ONEOK during the second quarter worth about $27,000. JNBA Financial Advisors boosted its holdings in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 200 shares during the period. IMA Wealth Inc. purchased a new stake in shares of ONEOK during the second quarter worth about $32,000. YorkBridge Wealth Partners LLC boosted its holdings in shares of ONEOK by 36.8% during the first quarter. YorkBridge Wealth Partners LLC now owns 569 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 153 shares during the period. Finally, Gradient Investments LLC boosted its holdings in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 260 shares during the period. Institutional investors own 74.45% of the company’s stock.
A number of analysts have recently weighed in on OKE shares. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a report on Monday, August 12th. Argus increased their target price on shares of ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Credit Suisse Group raised their price objective on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Mitsubishi UFJ Financial Group raised their price objective on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and an average target price of $72.37.
OKE traded up $0.71 on Friday, hitting $74.65. The company had a trading volume of 997,219 shares, compared to its average volume of 1,775,139. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.81 and a quick ratio of 0.60. ONEOK, Inc. has a 52-week low of $50.26 and a 52-week high of $74.65. The stock has a fifty day simple moving average of $69.81 and a 200-day simple moving average of $68.30. The firm has a market capitalization of $30.36 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.06 and a beta of 1.13.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was down 17.0% on a year-over-year basis. Equities research analysts expect that ONEOK, Inc. will post 3.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 4.77%. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, August 5th. ONEOK’s dividend payout ratio (DPR) is presently 128.06%.
ONEOK Company Profile
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.
Further Reading: What does a bar chart display?
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.