Reaves W H & Co. Inc. raised its position in ONEOK (NYSE:OKE) by 185.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300,314 shares of the utilities provider’s stock after buying an additional 844,920 shares during the period. ONEOK makes up about 2.6% of Reaves W H & Co. Inc.’s holdings, making the stock its 11th biggest holding. Reaves W H & Co. Inc. owned approximately 0.32% of ONEOK worth $74,014,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. American International Group Inc. boosted its position in ONEOK by 5.7% in the 1st quarter. American International Group Inc. now owns 172,922 shares of the utilities provider’s stock valued at $9,843,000 after buying an additional 9,396 shares during the last quarter. ETRADE Capital Management LLC purchased a new position in ONEOK in the 1st quarter valued at about $226,000. Schwab Charles Investment Management Inc. boosted its position in ONEOK by 27.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,455,182 shares of the utilities provider’s stock valued at $139,749,000 after buying an additional 521,305 shares during the last quarter. Wealthfront Inc. boosted its position in ONEOK by 40.3% in the 1st quarter. Wealthfront Inc. now owns 15,455 shares of the utilities provider’s stock valued at $880,000 after buying an additional 4,437 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in ONEOK in the 1st quarter valued at about $200,000. 68.97% of the stock is owned by institutional investors.
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A number of equities analysts have weighed in on OKE shares. Royal Bank of Canada raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 price objective on shares of ONEOK in a research report on Tuesday, January 16th. Barclays raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $58.00 to $67.00 in a research report on Wednesday, January 17th. Mizuho reissued a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research report on Tuesday, January 23rd. Finally, JPMorgan Chase upped their price objective on shares of ONEOK from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. ONEOK currently has an average rating of “Hold” and an average price target of $61.43.
In related news, Director Eduardo A. Rodriguez sold 2,100 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $56.94, for a total transaction of $119,574.00. Following the sale, the director now owns 16,025 shares in the company, valued at $912,463.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sheppard F. Miers III sold 2,200 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following the sale, the vice president now owns 31,244 shares in the company, valued at approximately $1,771,534.80. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Shares of ONEOK opened at $65.82 on Friday, MarketBeat.com reports. The stock has a market capitalization of $26.60 billion, a PE ratio of 37.40, a P/E/G ratio of 2.64 and a beta of 1.20. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 1.03. ONEOK has a 1 year low of $47.14 and a 1 year high of $66.04.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, May 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.49 billion. ONEOK had a net margin of 4.51% and a return on equity of 11.95%. During the same quarter in the prior year, the business posted $0.41 EPS. sell-side analysts forecast that ONEOK will post 2.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be paid a $0.795 dividend. This represents a $3.18 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Friday, April 27th. This is a positive change from ONEOK’s previous quarterly dividend of $0.77. ONEOK’s dividend payout ratio is 180.68%.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.