State of Alaska Department of Revenue reduced its position in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 34.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,179 shares of the utilities provider’s stock after selling 33,268 shares during the period. State of Alaska Department of Revenue’s holdings in ONEOK were worth $3,561,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in OKE. Cowa LLC lifted its holdings in ONEOK by 9,775.0% during the 1st quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after purchasing an additional 5,270,510 shares during the last quarter. Norges Bank bought a new position in ONEOK during the 4th quarter valued at about $188,577,000. BlackRock Inc. lifted its holdings in ONEOK by 6.1% during the 4th quarter. BlackRock Inc. now owns 45,529,862 shares of the utilities provider’s stock valued at $2,675,334,000 after purchasing an additional 2,614,981 shares during the last quarter. State Street Corp lifted its holdings in ONEOK by 4.8% during the 1st quarter. State Street Corp now owns 32,825,649 shares of the utilities provider’s stock valued at $2,318,476,000 after purchasing an additional 1,493,647 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in ONEOK by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after purchasing an additional 1,043,147 shares during the last quarter. 66.82% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on OKE shares. Morgan Stanley lowered their price objective on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Barclays lowered their price objective on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Mizuho raised their price objective on shares of ONEOK from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, August 10th. Finally, US Capital Advisors restated an “overweight” rating on shares of ONEOK in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.42.
ONEOK Stock Down 2.1 %
ONEOK (NYSE:OKE – Get Rating) last released its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). ONEOK had a return on equity of 26.32% and a net margin of 7.37%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 76.9% compared to the same quarter last year. On average, sell-side analysts forecast that ONEOK, Inc. will post 3.71 earnings per share for the current year.
ONEOK Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 6.40%. The ex-dividend date was Friday, July 29th. ONEOK’s payout ratio is 106.25%.
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.
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