Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 14.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,677,059 shares of the utilities provider’s stock after selling 287,059 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.38% of ONEOK worth $55,712,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Verus Capital Partners LLC bought a new position in ONEOK during the 4th quarter valued at about $30,000. Carroll Financial Associates Inc. lifted its holdings in ONEOK by 445.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 949 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 775 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new position in ONEOK during the 2nd quarter valued at about $40,000. Allworth Financial LP increased its position in ONEOK by 191.6% in the 2nd quarter. Allworth Financial LP now owns 1,356 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 891 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in ONEOK by 224.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,436 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 994 shares in the last quarter. 64.75% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of ONEOK from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Raymond James lowered their price objective on shares of ONEOK from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Monday, May 4th. SunTrust Banks lowered their price target on shares of ONEOK from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Citigroup cut shares of ONEOK from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $36.00 in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Hold” and a consensus target price of $43.35.
Shares of OKE stock opened at $27.91 on Friday. The company’s fifty day simple moving average is $31.00 and its 200-day simple moving average is $43.17. The company has a quick ratio of 1.01, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. The firm has a market cap of $12.40 billion, a PE ratio of 18.73, a P/E/G ratio of 1.86 and a beta of 2.19. ONEOK, Inc. has a 12 month low of $12.16 and a 12 month high of $78.48.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.19). The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $2.32 billion. ONEOK had a return on equity of 18.28% and a net margin of 7.13%. The business’s revenue for the quarter was down 32.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. On average, equities analysts predict that ONEOK, Inc. will post 2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.935 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.74 dividend on an annualized basis and a yield of 13.40%. ONEOK’s payout ratio is 121.82%.
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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