NEXT Financial Group Inc raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 52.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,307 shares of the utilities provider’s stock after purchasing an additional 2,175 shares during the period. NEXT Financial Group Inc’s holdings in ONEOK were worth $434,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of ONEOK by 7.9% during the 1st quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock worth $3,115,917,000 after buying an additional 3,261,539 shares during the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock worth $287,526,000 after acquiring an additional 415,385 shares during the last quarter. Northern Trust Corp increased its stake in ONEOK by 6.4% during the first quarter. Northern Trust Corp now owns 4,943,927 shares of the utilities provider’s stock worth $345,285,000 after acquiring an additional 295,729 shares during the last quarter. Clearbridge Investments LLC increased its position in ONEOK by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock worth $218,297,000 after purchasing an additional 83,906 shares in the last quarter. Finally, Ronna Sue Cohen increased its position in ONEOK by 6,877.6% during the 1st quarter. Ronna Sue Cohen now owns 2,706,461 shares of the utilities provider’s stock worth $2,706,000 after purchasing an additional 2,667,673 shares in the last quarter. 74.69% of the stock is owned by hedge funds and other institutional investors.
OKE has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Raymond James lowered shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Mitsubishi UFJ Financial Group increased their price objective on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research report on Thursday. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Seaport Global Securities lowered shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price objective for the company. in a research report on Monday, April 22nd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.62.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the firm earned $0.68 EPS. ONEOK’s quarterly revenue was down 17.0% on a year-over-year basis. On average, research analysts predict that ONEOK, Inc. will post 3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.01%. This is an increase from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, August 5th. ONEOK’s dividend payout ratio (DPR) is 124.46%.
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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