Trust Co. of Vermont trimmed its position in ONEOK, Inc. (NYSE:OKE) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,037 shares of the utilities provider’s stock after selling 631 shares during the quarter. Trust Co. of Vermont’s holdings in ONEOK were worth $492,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of ONEOK by 6.5% in the fourth quarter. BlackRock Inc. now owns 41,353,551 shares of the utilities provider’s stock worth $2,231,023,000 after acquiring an additional 2,533,165 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in ONEOK by 1.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 14,871,840 shares of the utilities provider’s stock worth $802,336,000 after buying an additional 151,681 shares in the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock worth $287,526,000 after buying an additional 415,385 shares in the last quarter. Northern Trust Corp lifted its position in ONEOK by 3.6% during the fourth quarter. Northern Trust Corp now owns 4,648,198 shares of the utilities provider’s stock worth $250,770,000 after buying an additional 161,907 shares in the last quarter. Finally, Norges Bank purchased a new position in ONEOK during the fourth quarter worth approximately $209,832,000. Hedge funds and other institutional investors own 75.11% of the company’s stock.
A number of brokerages recently commented on OKE. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Jefferies Financial Group downgraded ONEOK from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $72.00 to $74.00 in a research report on Monday, April 1st. Seaport Global Securities downgraded ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 target price on the stock. in a research report on Monday, April 22nd. Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Finally, Citigroup lifted their target price on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $71.73.
OKE traded down $0.42 on Wednesday, hitting $63.84. 2,365,300 shares of the company were exchanged, compared to its average volume of 2,496,079. ONEOK, Inc. has a twelve month low of $50.26 and a twelve month high of $71.99. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.79 and a quick ratio of 0.55.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.08. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm posted $0.64 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 3.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 29th were paid a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 5.42%. This is a boost from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, April 26th. ONEOK’s payout ratio is presently 124.46%.
In other news, Director Eduardo A. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $1,037,028. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.
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.
Further Reading: What is the Producer Price Index (PPI)?
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.