Northwestern Mutual Wealth Management Co. increased its position in shares of Oneok Inc. (NYSE:OKE) by 52.9% during the second quarter, Holdings Channel reports. The fund owned 4,138 shares of the company’s stock after buying an additional 1,431 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Oneok were worth $197,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in Oneok during the second quarter worth $123,000. Baker Ellis Asset Management LLC bought a new stake in Oneok during the second quarter worth $133,000. WFG Advisors LP increased its stake in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock worth $140,000 after buying an additional 88 shares during the last quarter. Euclid Advisors LLC bought a new stake in Oneok during the second quarter worth $149,000. Finally, Van ECK Associates Corp increased its stake in Oneok by 1.0% in the second quarter. Van ECK Associates Corp now owns 3,207 shares of the company’s stock worth $152,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.
Shares of Oneok Inc. (NYSE:OKE) traded down 0.37% during trading on Friday, reaching $53.75. 625,259 shares of the company traded hands. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $54.26. The firm’s 50 day moving average is $49.70 and its 200-day moving average is $47.11. The stock has a market capitalization of $11.32 billion, a P/E ratio of 39.70 and a beta of 1.06.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, November 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. Oneok had a return on equity of 9.99% and a net margin of 3.50%. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts anticipate that Oneok Inc. will post $1.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were paid a $0.615 dividend. The ex-dividend date was Thursday, October 27th. This represents a $2.46 annualized dividend and a dividend yield of 4.58%. Oneok’s dividend payout ratio is presently 182.22%.
A number of research firms recently weighed in on OKE. Jefferies Group restated a “hold” rating on shares of Oneok in a report on Wednesday, August 3rd. Royal Bank Of Canada increased their price objective on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, August 16th. Zacks Investment Research cut shares of Oneok from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 price target (up previously from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG raised shares of Oneok from a “sell” rating to a “hold” rating and upped their price target for the company from $49.00 to $52.00 in a research report on Monday, October 10th. Fourteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Oneok presently has an average rating of “Hold” and a consensus target price of $41.00.
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.