ONEOK, Inc. (NYSE:OKE) Stock Holdings Decreased by Brookstone Capital Management

Brookstone Capital Management lessened its position in ONEOK, Inc. (NYSE:OKEGet Rating) by 2.9% in the 2nd quarter, Holdings Channel reports. The fund owned 33,924 shares of the utilities provider’s stock after selling 1,004 shares during the period. Brookstone Capital Management’s holdings in ONEOK were worth $1,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cowa LLC lifted its holdings in shares of ONEOK by 9,775.0% in the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after purchasing an additional 5,270,510 shares in the last quarter. Norges Bank acquired a new position in ONEOK during the fourth quarter valued at $188,577,000. BlackRock Inc. lifted its stake in ONEOK by 6.1% in the 4th quarter. BlackRock Inc. now owns 45,529,862 shares of the utilities provider’s stock worth $2,675,334,000 after acquiring an additional 2,614,981 shares in the last quarter. State Street Corp boosted its position in ONEOK by 4.8% during the 1st quarter. State Street Corp now owns 32,825,649 shares of the utilities provider’s stock worth $2,318,476,000 after acquiring an additional 1,493,647 shares during the period. Finally, Vanguard Group Inc. grew its stake in ONEOK by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after acquiring an additional 1,043,147 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

ONEOK Trading Down 2.0 %

ONEOK stock opened at $59.70 on Wednesday. ONEOK, Inc. has a one year low of $52.19 and a one year high of $75.07. The company’s fifty day moving average price is $60.90 and its two-hundred day moving average price is $63.46. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.83 and a quick ratio of 0.62. The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.18 and a beta of 1.68.

ONEOK (NYSE:OKEGet Rating) last released its quarterly earnings results on Monday, August 8th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.02). ONEOK had a return on equity of 26.32% and a net margin of 7.37%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the company posted $0.77 EPS. The business’s revenue was up 76.9% compared to the same quarter last year. On average, analysts forecast that ONEOK, Inc. will post 3.71 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were given a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Friday, July 29th. ONEOK’s dividend payout ratio is 106.25%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OKE shares. Morgan Stanley reduced their price target on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. US Capital Advisors reiterated an “overweight” rating on shares of ONEOK in a research report on Wednesday, June 1st. Barclays lowered their price target on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Finally, Mizuho increased their price objective on ONEOK from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and a consensus price target of $68.42.

ONEOK Profile

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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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