Moloney Securities Asset Management LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

Moloney Securities Asset Management LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 8.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,054 shares of the utilities provider’s stock after selling 628 shares during the period. Moloney Securities Asset Management LLC’s holdings in ONEOK were worth $485,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OKE. C J Advisory Inc acquired a new position in shares of ONEOK during the first quarter worth about $26,000. Pinnacle Financial Partners Inc. acquired a new position in shares of ONEOK during the first quarter worth about $27,000. Buffington Mohr McNeal acquired a new position in shares of ONEOK during the first quarter worth about $28,000. JNBA Financial Advisors increased its stake in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 200 shares during the period. Finally, IMA Wealth Inc. acquired a new position in shares of ONEOK during the second quarter worth about $32,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Shares of OKE traded up $0.11 on Friday, hitting $69.05. 1,689,788 shares of the stock traded hands, compared to its average volume of 2,089,628. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.87 and a beta of 1.17. The firm has a 50 day moving average price of $69.20. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $72.38.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company’s quarterly 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 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 3.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.89 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.56 annualized dividend and a dividend yield of 5.16%. ONEOK’s dividend payout ratio is presently 128.06%.

A number of research analysts have recently issued reports on OKE shares. Mitsubishi UFJ Financial Group boosted their price target on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Raymond James lowered shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Argus upped their target price on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research report on Tuesday. Citigroup upped their target price on shares of ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Seaport Global Securities lowered shares of 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. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.06.

ONEOK Company Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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