ONEOK, Inc. (OKE) Stake Boosted by Crawford Investment Counsel Inc.
Crawford Investment Counsel Inc. boosted its position in ONEOK, Inc. (NYSE:OKE) by 61.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,635 shares of the utilities provider’s stock after buying an additional 15,427 shares during the period. Crawford Investment Counsel Inc.’s holdings in ONEOK were worth $2,120,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in OKE. Huntington National Bank increased its stake in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares during the period. Retirement Systems of Alabama increased its stake in shares of ONEOK by 2.1% in the first quarter. Retirement Systems of Alabama now owns 101,876 shares of the utilities provider’s stock worth $5,648,000 after buying an additional 2,095 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of ONEOK by 27.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 17,982 shares of the utilities provider’s stock worth $997,000 after buying an additional 3,862 shares during the period. Nationwide Fund Advisors increased its stake in shares of ONEOK by 5.4% in the first quarter. Nationwide Fund Advisors now owns 60,542 shares of the utilities provider’s stock worth $3,356,000 after buying an additional 3,127 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of ONEOK by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,614 shares of the utilities provider’s stock worth $291,000 after buying an additional 309 shares during the period. 51.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ONEOK, Inc. (NYSE OKE) opened at 54.01 on Thursday. The stock has a 50 day moving average of $53.33 and a 200-day moving average of $52.81. The firm has a market capitalization of $20.52 billion, a PE ratio of 33.84 and a beta of 1.31. ONEOK, Inc. has a 12 month low of $45.41 and a 12 month high of $59.47.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post $1.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a $0.745 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a yield of 5.52%. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
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OKE has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price target on shares of ONEOK in a report on Friday, May 12th. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. Jefferies Group LLC set a $51.00 price target on shares of ONEOK and gave the stock a “hold” rating in a report on Friday, June 16th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 21st. Finally, Stifel Nicolaus initiated coverage on shares of ONEOK in a report on Monday, June 26th. They set a “hold” rating and a $48.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.46.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.
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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