Atria Investments LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,351 shares of the utilities provider’s stock, valued at approximately $1,014,000.
Other institutional investors have also modified their holdings of the company. Elmwood Wealth Management Inc. purchased a new position in shares of ONEOK during the 4th quarter valued at about $29,000. Missouri Trust & Investment Co purchased a new position in shares of ONEOK during the 4th quarter valued at about $30,000. Covestor Ltd purchased a new position in shares of ONEOK during the 4th quarter valued at about $31,000. DeDora Capital Inc. purchased a new position in shares of ONEOK during the 1st quarter valued at about $32,000. Finally, Larson Financial Group LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.
Insider Buying and Selling at ONEOK
In related news, CEO Pierce Norton acquired 8,975 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average price of $55.54 per share, with a total value of $498,471.50. Following the completion of the transaction, the chief executive officer now owns 9,414 shares of the company’s stock, valued at $522,853.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.
ONEOK Stock Up 0.4 %
ONEOK (NYSE:OKE – Get Rating) last announced its earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5 billion. ONEOK had a net margin of 8.01% and a return on equity of 25.33%. During the same period in the previous year, the firm earned $0.86 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 3.76 EPS for the current year.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be given a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date is Friday, July 29th. ONEOK’s payout ratio is 110.98%.
Wall Street Analyst Weigh In
OKE has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Raymond James raised their target price on ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. StockNews.com assumed coverage on ONEOK in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays lowered their price objective on ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Finally, Wells Fargo & Company lowered their price objective on ONEOK to $71.00 and set an “equal weight” rating on the stock in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.25.
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.
- Get a free copy of the StockNews.com research report on ONEOK (OKE)
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