Penserra Capital Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 45.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,434 shares of the utilities provider’s stock after selling 1,210 shares during the quarter. Penserra Capital Management LLC’s holdings in ONEOK were worth $105,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of ONEOK by 1.6% during the second quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock worth $3,208,599,000 after buying an additional 739,353 shares during the last quarter. Northern Trust Corp grew its holdings in ONEOK by 1.5% during the 2nd quarter. Northern Trust Corp now owns 5,017,875 shares of the utilities provider’s stock worth $345,281,000 after acquiring an additional 73,948 shares during the period. Invesco Ltd. grew its holdings in ONEOK by 19.6% during the 2nd quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock worth $229,398,000 after acquiring an additional 546,731 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock worth $213,785,000 after acquiring an additional 136,866 shares during the period. Finally, Morgan Stanley raised its position in shares of ONEOK by 5.3% during the 2nd quarter. Morgan Stanley now owns 3,067,584 shares of the utilities provider’s stock valued at $211,081,000 after acquiring an additional 155,444 shares during the last quarter. Institutional investors own 73.32% of the company’s stock.
OKE opened at $70.82 on Tuesday. The stock has a market cap of $29.35 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.16 and a beta of 1.16. ONEOK, Inc. has a 12 month low of $50.26 and a 12 month high of $77.21. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01. The company has a fifty day simple moving average of $70.65 and a 200 day simple moving average of $69.68.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 3.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.915 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is 131.65%.
In other news, CAO Mary M. Spears sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.85, for a total transaction of $143,700.00. Following the sale, the chief accounting officer now owns 10,263 shares of the company’s stock, valued at $737,396.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.
OKE has been the topic of several recent research reports. ValuEngine lowered ONEOK from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Barclays set a $79.00 price objective on ONEOK and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a report on Wednesday, September 18th. Tudor Pickering started coverage on ONEOK in a research note on Friday, November 8th. They issued a “buy” rating and a $74.00 target price on the stock. Finally, Argus raised their target price on ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.53.
ONEOK Company Profile
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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