45,200 Shares in ONEOK, Inc. (OKE) Acquired by OMERS ADMINISTRATION Corp
OMERS ADMINISTRATION Corp purchased a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,200 shares of the utilities provider’s stock, valued at approximately $2,358,000.
A number of other institutional investors have also recently made changes to their positions in OKE. Cambridge Investment Research Advisors Inc. boosted its position in shares of ONEOK by 59.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 47,131 shares of the utilities provider’s stock worth $2,458,000 after buying an additional 17,585 shares during the last quarter. Brookstone Capital Management boosted its position in shares of ONEOK by 6.6% in the second quarter. Brookstone Capital Management now owns 112,914 shares of the utilities provider’s stock worth $5,890,000 after buying an additional 6,958 shares during the last quarter. Buckingham Asset Management LLC purchased a new position in shares of ONEOK during the second quarter worth about $647,000. Neuberger Berman Group LLC boosted its position in shares of ONEOK by 6.1% in the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of ONEOK by 8.2% in the second quarter. Pacer Advisors Inc. now owns 4,232 shares of the utilities provider’s stock worth $221,000 after buying an additional 319 shares during the last quarter. Institutional investors own 51.23% of the company’s stock.
ONEOK, Inc. (OKE) opened at 53.22 on Wednesday. The company has a market cap of $20.22 billion, a PE ratio of 33.35 and a beta of 1.31. The firm’s 50-day moving average is $53.33 and its 200 day moving average is $52.81. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter in the prior year, the business earned $0.40 EPS. Analysts predict that ONEOK, Inc. will post $1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend was Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
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A number of brokerages recently issued reports on OKE. BidaskClub upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Argus reiterated a “buy” rating and issued a $59.00 price target (up previously from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Credit Suisse Group dropped their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 5th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ONEOK presently has an average rating of “Hold” and an average target price of $57.46.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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