ONEOK, Inc. (OKE) Holdings Lowered by Russell Investments Group Ltd.
Russell Investments Group Ltd. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 586,201 shares of the utilities provider’s stock after selling 54,882 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of ONEOK worth $40,948,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. State Treasurer State of Michigan boosted its holdings in shares of ONEOK by 0.7% in the second quarter. State Treasurer State of Michigan now owns 121,726 shares of the utilities provider’s stock worth $8,500,000 after buying an additional 800 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of ONEOK by 4.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 58,124 shares of the utilities provider’s stock worth $4,059,000 after purchasing an additional 2,611 shares during the period. Doyle Wealth Management acquired a new stake in shares of ONEOK during the second quarter worth approximately $287,000. SG Americas Securities LLC boosted its holdings in shares of ONEOK by 302.5% during the second quarter. SG Americas Securities LLC now owns 82,716 shares of the utilities provider’s stock worth $5,776,000 after purchasing an additional 62,167 shares during the period. Finally, Tortoise Index Solutions LLC boosted its holdings in shares of ONEOK by 3.9% during the second quarter. Tortoise Index Solutions LLC now owns 161,082 shares of the utilities provider’s stock worth $11,248,000 after purchasing an additional 5,974 shares during the period. Institutional investors own 74.35% of the company’s stock.
NYSE OKE opened at $67.84 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. ONEOK, Inc. has a 12-month low of $49.65 and a 12-month high of $71.99.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Monday, August 6th were paid a $0.825 dividend. The ex-dividend date was Friday, August 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.80. This represents a $3.30 dividend on an annualized basis and a yield of 4.86%. ONEOK’s payout ratio is 187.50%.
Several analysts recently commented on the stock. Bank of America raised their price target on shares of ONEOK from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Wells Fargo & Co raised their price target on shares of ONEOK from $69.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Seaport Global Securities set a $73.00 price target on shares of ONEOK and gave the stock a “hold” rating in a report on Friday, July 27th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Friday, July 20th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.00.
In other ONEOK news, Director Brian L. Derksen bought 1,500 shares of ONEOK stock in a transaction on Monday, August 6th. The stock was purchased at an average cost of $67.60 per share, for a total transaction of $101,400.00. Following the completion of the purchase, the director now directly owns 5,100 shares of the company’s stock, valued at $344,760. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by insiders.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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