First Manhattan Co. held its position in ONEOK, Inc. (NYSE:OKE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the utilities provider’s stock at the end of the first quarter. First Manhattan Co.’s holdings in ONEOK were worth $205,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of ONEOK during the fourth quarter valued at $106,193,000. Janus Capital Management LLC raised its position in shares of ONEOK by 308.7% in the fourth quarter. Janus Capital Management LLC now owns 1,516,062 shares of the utilities provider’s stock valued at $87,037,000 after buying an additional 1,145,098 shares during the last quarter. Energy Income Partners LLC purchased a new position in shares of ONEOK during the fourth quarter valued at $45,645,000. The Manufacturers Life Insurance Company purchased a new position in shares of ONEOK during the third quarter valued at $36,425,000. Finally, State Street Corp increased its stake in ONEOK by 5.8% in the fourth quarter. State Street Corp now owns 10,680,278 shares of the utilities provider’s stock valued at $613,142,000 after buying an additional 584,770 shares during the period. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (NYSE:OKE) opened at 51.43 on Friday. The firm has a 50-day moving average price of $53.18 and a 200 day moving average price of $54.17. ONEOK, Inc. has a 12-month low of $41.11 and a 12-month high of $59.47. The firm has a market cap of $10.85 billion, a PE ratio of 30.70 and a beta of 1.19.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.50% and a return on equity of 9.99%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.82 billion. Equities research analysts forecast that ONEOK, Inc. will post $2.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were issued a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 4.94%. The ex-dividend date was Thursday, April 27th. ONEOK’s payout ratio is 182.22%.
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Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “hold” rating and set a $58.00 price target on shares of ONEOK in a research note on Friday, May 12th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target on shares of ONEOK in a research note on Friday, March 31st. TheStreet upgraded ONEOK from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of ONEOK in a research note on Wednesday, March 1st. Finally, Piper Jaffray Companies upgraded ONEOK to a “buy” rating and set a $63.00 price target for the company in a research note on Saturday, February 4th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $56.91.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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