RPg Family Wealth Advisory LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 47,287 shares of the utilities provider’s stock, valued at approximately $3,254,000. ONEOK comprises approximately 1.9% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 20th largest holding.
A number of other hedge funds have also made changes to their positions in OKE. Parametric Portfolio Associates LLC grew its stake in shares of ONEOK by 7.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,155,898 shares of the utilities provider’s stock worth $79,537,000 after acquiring an additional 78,777 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its stake in shares of ONEOK by 712.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 3,089 shares of the utilities provider’s stock worth $213,000 after buying an additional 2,709 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of ONEOK by 10.8% during the second quarter. D.A. Davidson & CO. now owns 35,746 shares of the utilities provider’s stock valued at $2,460,000 after buying an additional 3,489 shares during the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of ONEOK by 20.4% during the second quarter. Meadow Creek Investment Management LLC now owns 22,384 shares of the utilities provider’s stock valued at $1,540,000 after buying an additional 3,792 shares during the last quarter. Finally, Tyers Asset Management LLC grew its holdings in shares of ONEOK by 20.4% during the second quarter. Tyers Asset Management LLC now owns 39,172 shares of the utilities provider’s stock valued at $2,695,000 after buying an additional 6,636 shares during the last quarter. 74.45% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on OKE shares. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. UBS Group upgraded ONEOK from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Mitsubishi UFJ Financial Group upped their price target on ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Argus increased their price objective on ONEOK to $82.00 and gave the company an “average” rating in a research report on Tuesday, August 6th. Finally, Credit Suisse Group boosted their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.37.
Shares of ONEOK stock traded up $0.45 on Wednesday, reaching $73.97. 131,131 shares of the stock were exchanged, compared to its average volume of 1,775,963. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. ONEOK, Inc. has a twelve month low of $50.26 and a twelve month high of $74.38. The firm has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.06 and a beta of 1.13. The business has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $68.27.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company earned $0.68 EPS. ONEOK’s quarterly revenue was down 17.0% on a year-over-year basis. Research analysts forecast that ONEOK, Inc. will post 3.1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.89 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, August 5th. ONEOK’s dividend payout ratio is presently 128.06%.
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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