Massachusetts Financial Services Co. MA Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Massachusetts Financial Services Co. MA trimmed its position in ONEOK, Inc. (NYSE:OKE) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,582 shares of the utilities provider’s stock after selling 13,764 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in ONEOK were worth $16,390,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Corsicana & Co. purchased a new stake in shares of ONEOK in the 2nd quarter valued at $28,000. O Shaughnessy Asset Management LLC raised its position in ONEOK by 32.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 190 shares during the last quarter. Evermay Wealth Management LLC bought a new position in shares of ONEOK during the second quarter valued at approximately $42,000. Logan Capital Management Inc. purchased a new stake in shares of ONEOK in the 1st quarter worth about $52,000. Finally, Pflug Koory LLC purchased a new stake in ONEOK in the second quarter worth about $52,000. 64.04% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on ONEOK from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. Sanford C. Bernstein upgraded ONEOK from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a research note on Thursday, September 23rd. Credit Suisse Group increased their target price on ONEOK from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, August 9th. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Friday, July 23rd. Finally, Morgan Stanley raised their target price on shares of ONEOK from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $52.15.

Shares of NYSE:OKE opened at $63.27 on Thursday. The firm has a market capitalization of $28.20 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.66 and a beta of 2.05. ONEOK, Inc. has a 1 year low of $26.76 and a 1 year high of $63.51. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.68. The firm’s 50-day moving average is $54.92 and its two-hundred day moving average is $53.93.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $4.01 billion. ONEOK had a return on equity of 22.30% and a net margin of 11.90%. Analysts expect that ONEOK, Inc. will post 3.29 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were given a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 5.91%. The ex-dividend date was Friday, July 30th. ONEOK’s payout ratio is currently 263.38%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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