Victory Capital Management Inc. Has $37.80 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Victory Capital Management Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 36.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 596,851 shares of the utilities provider’s stock after purchasing an additional 160,075 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of ONEOK worth $37,799,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OKE. Elmwood Wealth Management Inc. acquired a new position in ONEOK during the 4th quarter valued at about $29,000. Missouri Trust & Investment Co acquired a new position in ONEOK during the 4th quarter valued at about $30,000. Covestor Ltd acquired a new position in ONEOK during the 4th quarter valued at about $31,000. DeDora Capital Inc. acquired a new position in ONEOK during the 1st quarter valued at about $32,000. Finally, Larson Financial Group LLC acquired a new position in ONEOK during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 65.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James lifted their price target on ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Barclays dropped their target price on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Morgan Stanley dropped their target price on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Wells Fargo & Company dropped their target price on shares of ONEOK to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, May 20th. Finally, US Capital Advisors reissued an “overweight” rating on shares of ONEOK in a research report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.25.

ONEOK Trading Down 1.0 %

Shares of OKE stock opened at $59.12 on Tuesday. The company’s fifty day simple moving average is $59.59 and its two-hundred day simple moving average is $63.49. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55. ONEOK, Inc. has a 1 year low of $48.51 and a 1 year high of $75.07. The stock has a market capitalization of $26.40 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.12 and a beta of 1.72.

ONEOK (NYSE:OKEGet Rating) last issued its earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). ONEOK had a net margin of 8.01% and a return on equity of 25.33%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 3.73 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be issued a dividend of $0.935 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $3.74 dividend on an annualized basis and a yield of 6.33%. ONEOK’s payout ratio is 110.98%.

Insider Buying and Selling at ONEOK

In other news, CEO Pierce Norton purchased 8,975 shares of ONEOK stock in a transaction dated Friday, June 17th. The stock was purchased at an average cost of $55.54 per share, for a total transaction of $498,471.50. Following the transaction, the chief executive officer now directly owns 9,414 shares of the company’s stock, valued at $522,853.56. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

ONEOK Company Profile

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in 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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