Linscomb & Williams Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,882 shares of the utilities provider’s stock after purchasing an additional 401 shares during the period. Linscomb & Williams Inc.’s holdings in ONEOK were worth $327,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Corsicana & Co. acquired a new stake in shares of ONEOK during the second quarter worth approximately $28,000. Burleson & Company LLC acquired a new stake in shares of ONEOK during the first quarter worth approximately $29,000. First National Bank of South Miami increased its holdings in shares of ONEOK by 253.5% in the first quarter. First National Bank of South Miami now owns 760 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 545 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of ONEOK by 32.9% in the first 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 in the last quarter. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of ONEOK in the first quarter valued at approximately $40,000. 64.04% of the stock is owned by hedge funds and other institutional investors.
OKE has been the subject of a number of research reports. raised their price target on shares of ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 8th. Morgan Stanley raised their price target 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. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price target for the company. in a report on Friday, July 23rd. Credit Suisse Group raised their price target on shares of ONEOK from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, August 9th. Finally, Wells Fargo & Company raised their price target on shares of ONEOK from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus target price of $47.27.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $4.01 billion. ONEOK had a net margin of 11.90% and a return on equity of 22.30%. On average, research analysts anticipate that ONEOK, Inc. will post 3.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Monday, August 2nd were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 7.00%. ONEOK’s dividend payout ratio is 263.38%.
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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