MBM Wealth Consultants LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,152 shares of the utilities provider’s stock after selling 1,461 shares during the period. MBM Wealth Consultants LLC’s holdings in ONEOK were worth $905,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of OKE. C J Advisory Inc purchased a new position in shares of ONEOK during the 1st quarter worth approximately $26,000. Pinnacle Financial Partners Inc. purchased a new position in shares of ONEOK during the 1st quarter worth approximately $27,000. Buffington Mohr McNeal purchased a new position in shares of ONEOK during the 1st quarter worth approximately $28,000. JNBA Financial Advisors raised its stake in shares of ONEOK by 91.3% during the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Finally, IMA Wealth Inc. purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $32,000. 74.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on OKE. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Seaport Global Securities downgraded ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 target price for the company. in a research note on Monday, April 22nd. Credit Suisse Group increased their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday. Argus increased their target price on ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday. Finally, Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $72.06.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The company’s revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 3.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.16%. This is a boost from ONEOK’s previous quarterly dividend of $0.87. ONEOK’s dividend payout ratio is currently 128.06%.
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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