Cadent Capital Advisors LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,104 shares of the utilities provider’s stock after selling 3,793 shares during the period. ONEOK accounts for approximately 2.1% of Cadent Capital Advisors LLC’s portfolio, making the stock its 15th biggest holding. Cadent Capital Advisors LLC’s holdings in ONEOK were worth $4,717,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of ONEOK during the fourth quarter valued at about $134,188,000. BlackRock Inc. increased its position in shares of ONEOK by 6.7% during the first quarter. BlackRock Inc. now owns 41,319,634 shares of the utilities provider’s stock valued at $2,093,250,000 after purchasing an additional 2,586,794 shares during the period. Morgan Stanley lifted its position in ONEOK by 117.2% in the fourth quarter. Morgan Stanley now owns 4,179,095 shares of the utilities provider’s stock worth $160,393,000 after purchasing an additional 2,254,847 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in ONEOK by 182.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,054,244 shares of the utilities provider’s stock valued at $78,841,000 after buying an additional 1,327,940 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 11.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,448,630 shares of the utilities provider’s stock worth $247,499,000 after acquiring an additional 641,346 shares during the period. Institutional investors and hedge funds own 63.97% of the company’s stock.
OKE has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of ONEOK from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, April 7th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on ONEOK from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, May 11th. Morgan Stanley raised shares of ONEOK from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective on the stock in a report on Wednesday, May 26th. Wells Fargo & Company upped their target price on shares of ONEOK from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 13th. Finally, Raymond James raised their price target on ONEOK from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.59.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.09. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.53 billion. ONEOK had a return on equity of 18.61% and a net margin of 11.88%. During the same period last year, the company earned $0.83 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 3.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, April 26th were issued a dividend of $0.935 per share. The ex-dividend date was Friday, April 23rd. This represents a $3.74 dividend on an annualized basis and a yield of 6.78%. 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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