ONEOK, Inc. (OKE) Holdings Raised by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in ONEOK, Inc. (NYSE:OKE) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,362 shares of the utilities provider’s stock after acquiring an additional 3,684 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ONEOK were worth $4,006,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BerganKDV Wealth Management LLC purchased a new position in shares of ONEOK in the second quarter worth $117,000. Private Capital Group LLC raised its holdings in shares of ONEOK by 12,150.0% in the first quarter. Private Capital Group LLC now owns 2,205 shares of the utilities provider’s stock worth $126,000 after buying an additional 2,187 shares during the last quarter. SWS Partners purchased a new position in shares of ONEOK in the first quarter worth $138,000. Archford Capital Strategies LLC purchased a new position in shares of ONEOK in the first quarter worth $148,000. Finally, McKinley Carter Wealth Services Inc. purchased a new position in shares of ONEOK in the first quarter worth $148,000. Institutional investors own 74.35% of the company’s stock.
Several research analysts recently issued reports on OKE shares. Stifel Nicolaus raised their target price on shares of ONEOK from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 3rd. ValuEngine raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Thursday, May 3rd. Barclays raised their target price on shares of ONEOK from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, July 3rd. Finally, Royal Bank of Canada raised their target price on shares of ONEOK from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 6th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. ONEOK currently has an average rating of “Buy” and a consensus target price of $69.67.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.20 billion. ONEOK had a net margin of 6.07% and a return on equity of 14.70%. equities analysts anticipate that ONEOK, Inc. will post 2.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, August 6th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Friday, August 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.80. ONEOK’s dividend payout ratio (DPR) is currently 187.50%.
In other news, Director Brian L. Derksen purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $67.60 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at $344,760. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company 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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