Parkside Financial Bank & Trust lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,220 shares of the utilities provider’s stock after selling 537 shares during the period. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. C J Advisory Inc purchased a new stake in shares of ONEOK during the 1st quarter valued at $26,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of ONEOK during the 1st quarter valued at $27,000. Buffington Mohr McNeal purchased a new stake in shares of ONEOK during the 1st quarter valued at $28,000. JNBA Financial Advisors lifted its holdings in shares of ONEOK by 91.3% during the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, IMA Wealth Inc. purchased a new stake in shares of ONEOK during the 2nd quarter valued at $32,000. Institutional investors own 74.05% of the company’s stock.
Several brokerages have recently commented on OKE. Argus increased their price objective on ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Citigroup increased their price objective on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Mitsubishi UFJ Financial Group increased their price objective on ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, Credit Suisse Group increased their price objective on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. ONEOK has a consensus rating of “Hold” and an average target price of $72.37.
ONEOK (NYSE:OKE) last released its earnings results 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. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the firm earned $0.68 EPS. The firm’s revenue was down 17.0% on a year-over-year basis. Equities research analysts predict that ONEOK, Inc. will post 3.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.02%. This is an increase from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, August 5th. ONEOK’s dividend payout ratio is presently 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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