Moloney Securities Asset Management LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,879 shares of the utilities provider’s stock after selling 175 shares during the period. Moloney Securities Asset Management LLC’s holdings in ONEOK were worth $507,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in ONEOK by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock worth $3,208,599,000 after acquiring an additional 739,353 shares in the last quarter. Northern Trust Corp lifted its stake in ONEOK by 1.5% in the 2nd quarter. Northern Trust Corp now owns 5,017,875 shares of the utilities provider’s stock worth $345,281,000 after acquiring an additional 73,948 shares in the last quarter. Invesco Ltd. lifted its stake in ONEOK by 19.6% in the 2nd quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock worth $229,398,000 after acquiring an additional 546,731 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 4.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock worth $213,785,000 after acquiring an additional 136,866 shares in the last quarter. Finally, Morgan Stanley lifted its stake in ONEOK by 5.3% in the 2nd quarter. Morgan Stanley now owns 3,067,584 shares of the utilities provider’s stock worth $211,081,000 after acquiring an additional 155,444 shares in the last quarter. 74.40% of the stock is owned by hedge funds and other institutional investors.
Shares of OKE traded down $0.25 during midday trading on Thursday, reaching $70.51. 6,145 shares of the stock were exchanged, compared to its average volume of 1,984,201. ONEOK, Inc. has a 12-month low of $50.26 and a 12-month high of $77.21. The firm has a 50 day simple moving average of $71.51 and a 200-day simple moving average of $69.29. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 2.20 and a beta of 1.13.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.74. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business earned $0.75 EPS. Research analysts expect that ONEOK, Inc. will post 3.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.915 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. ONEOK’s dividend payout ratio is currently 131.65%.
Several equities research analysts recently issued reports on the company. Mitsubishi UFJ Financial Group increased their price objective on ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a research note on Wednesday, September 18th. Argus raised their price target on ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. Barclays set a $79.00 price target on ONEOK and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Raymond James cut their price target on ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. ONEOK presently has a consensus rating of “Hold” and an average price target of $74.75.
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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