Tiedemann Advisors LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 4.7% during the second quarter, Holdings Channel.com reports. The fund owned 108,424 shares of the utilities provider’s stock after selling 5,343 shares during the period. Tiedemann Advisors LLC’s holdings in ONEOK were worth $7,459,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $27,000. JNBA Financial Advisors grew its holdings in shares of ONEOK by 91.3% in the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of ONEOK in the second quarter valued at approximately $32,000. YorkBridge Wealth Partners LLC grew its holdings in shares of ONEOK by 36.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 569 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in shares of ONEOK by 82.3% in the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 260 shares in the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.
NYSE OKE traded up $0.43 on Friday, hitting $74.36. 1,203,391 shares of the stock were exchanged, compared to its average volume of 1,775,139. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $74.65. The company has a market cap of $30.36 billion, a PE ratio of 26.75, a PEG ratio of 2.06 and a beta of 1.13. The company has a 50-day moving average price of $69.81 and a 200-day moving average price of $68.30.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was down 17.0% on a year-over-year basis. As a group, equities research analysts predict that ONEOK, Inc. will post 3.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from ONEOK’s previous quarterly dividend of $0.87. ONEOK’s payout ratio is 128.06%.
OKE has been the subject of a number of research reports. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Monday, August 12th. Mitsubishi UFJ Financial Group lifted their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Argus lifted their price objective on shares of ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Finally, Credit Suisse Group lifted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. ONEOK has an average rating of “Hold” and a consensus price target of $72.37.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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