Aveo Capital Partners LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,909 shares of the utilities provider’s stock after buying an additional 1,075 shares during the period. Aveo Capital Partners LLC’s holdings in ONEOK were worth $413,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV purchased a new stake in ONEOK during the first quarter worth approximately $100,000. Delta Asset Management LLC TN purchased a new stake in ONEOK during the second quarter worth approximately $103,000. Smithfield Trust Co. increased its stake in ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,034 shares during the last quarter. Huntington National Bank increased its stake in 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 last quarter. Finally, Financial Architects Inc increased its stake in ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock worth $208,000 after buying an additional 2,340 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.
Shares of ONEOK, Inc. (OKE) traded up 1.13% during trading on Friday, hitting $50.93. 2,213,523 shares of the stock traded hands. The firm has a 50 day moving average price of $53.23 and a 200-day moving average price of $52.90. The company has a market cap of $19.35 billion, a PE ratio of 31.91 and a beta of 1.31. ONEOK, Inc. has a one year low of $45.41 and a one year 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 consensus estimate of $0.45 by $0.12. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Analysts anticipate that ONEOK, Inc. will post $1.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.745 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend was Thursday, August 3rd. ONEOK’s payout ratio is 186.25%.
A number of analysts recently weighed in on OKE shares. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $59.00 in a research report on Wednesday, June 14th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, June 21st. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research report on Wednesday, July 5th. Finally, Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.15.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the sale, the director now directly owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.
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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