SFE Investment Counsel Has $8.52 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

SFE Investment Counsel decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 153,102 shares of the utilities provider’s stock after selling 6,355 shares during the period. ONEOK makes up about 2.3% of SFE Investment Counsel’s portfolio, making the stock its 9th biggest position. SFE Investment Counsel’s holdings in ONEOK were worth $8,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mariner LLC lifted its holdings in ONEOK by 6.8% during the 1st quarter. Mariner LLC now owns 150,195 shares of the utilities provider’s stock worth $7,609,000 after buying an additional 9,589 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of ONEOK by 8.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 244,429 shares of the utilities provider’s stock valued at $12,383,000 after purchasing an additional 19,563 shares in the last quarter. Van ECK Associates Corp lifted its stake in ONEOK by 3.7% in the first quarter. Van ECK Associates Corp now owns 85,393 shares of the utilities provider’s stock valued at $4,326,000 after buying an additional 3,043 shares during the period. Waratah Capital Advisors Ltd. grew its position in shares of ONEOK by 56.0% during the 1st quarter. Waratah Capital Advisors Ltd. now owns 26,696 shares of the utilities provider’s stock worth $1,352,000 after buying an additional 9,588 shares during the period. Finally, Americana Partners LLC boosted its stake in ONEOK by 46.9% during the second quarter. Americana Partners LLC now owns 30,935 shares of the utilities provider’s stock worth $1,721,000 after acquiring an additional 9,874 shares in the last quarter. 64.04% of the stock is owned by hedge funds and other institutional investors.

ONEOK stock traded up $1.93 during mid-day trading on Wednesday, reaching $54.98. The company’s stock had a trading volume of 54,037 shares, compared to its average volume of 2,718,840. ONEOK, Inc. has a 12-month low of $23.28 and a 12-month high of $57.55. The company has a market capitalization of $24.50 billion, a P/E ratio of 18.09, a PEG ratio of 2.66 and a beta of 2.05. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.68 and a current ratio of 0.93. The firm’s fifty day moving average price is $52.91 and its two-hundred day moving average price is $52.60.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. ONEOK had a net margin of 11.90% and a return on equity of 22.30%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $4.01 billion. On average, research analysts predict that ONEOK, Inc. will post 3.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were given a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend was Friday, July 30th. ONEOK’s payout ratio is currently 263.38%.

A number of equities analysts have recently issued reports on OKE shares. increased their price objective on shares of ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 8th. Credit Suisse Group raised their price target on shares of ONEOK from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, August 9th. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research report on Friday, July 23rd. Morgan Stanley raised their price target on shares of ONEOK from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 26th. Finally, Citigroup increased their price objective on shares of ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.27.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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