Wambolt & Associates LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 2.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,713 shares of the utilities provider’s stock after buying an additional 619 shares during the period. ONEOK accounts for approximately 1.7% of Wambolt & Associates LLC’s holdings, making the stock its 10th largest position. Wambolt & Associates LLC’s holdings in ONEOK were worth $2,173,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Cincinnati Insurance Co. bought a new position in ONEOK during the 3rd quarter worth approximately $3,421,000. Banque Cantonale Vaudoise bought a new position in ONEOK during the 4th quarter worth approximately $1,153,000. Krane Funds Advisors LLC raised its holdings in ONEOK by 2.2% during the 4th quarter. Krane Funds Advisors LLC now owns 7,458 shares of the utilities provider’s stock worth $564,000 after purchasing an additional 160 shares during the last quarter. Evoke Wealth LLC bought a new position in ONEOK during the 3rd quarter worth approximately $164,000. Finally, First Allied Advisory Services Inc. raised its holdings in ONEOK by 9.3% during the 3rd quarter. First Allied Advisory Services Inc. now owns 33,051 shares of the utilities provider’s stock worth $2,435,000 after purchasing an additional 2,809 shares during the last quarter. Institutional investors and hedge funds own 73.43% of the company’s stock.
In related news, Director Mark W. Helderman acquired 6,094 shares of ONEOK stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $73.36 per share, with a total value of $447,055.84. Company insiders own 0.60% of the company’s stock.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.72 billion. ONEOK had a net margin of 12.58% and a return on equity of 20.27%. The company’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 3.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, January 27th were given a dividend of $0.935 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, January 24th. This represents a $3.74 annualized dividend and a dividend yield of 5.54%. ONEOK’s dividend payout ratio (DPR) is 121.82%.
Several research analysts have issued reports on OKE shares. Scotiabank started coverage on shares of ONEOK in a report on Tuesday, January 28th. They set a “sector outperform” rating and a $84.00 price target for the company. Morgan Stanley started coverage on shares of ONEOK in a report on Monday, January 6th. They set an “underweight” rating and a $63.00 price target for the company. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Tudor Pickering started coverage on shares of ONEOK in a report on Friday, November 8th. They set a “buy” rating and a $74.00 price target for the company. Finally, ValuEngine upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $76.84.
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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