Louisiana State Employees Retirement System boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,100 shares of the utilities provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in ONEOK were worth $1,849,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of ONEOK by 275.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 2,091 shares during the last quarter. Raymond James Trust N.A. increased its holdings in ONEOK by 6.6% during the 1st quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after purchasing an additional 331 shares during the period. Sei Investments Co. increased its holdings in ONEOK by 500.5% during the 1st quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after purchasing an additional 139,379 shares during the period. Aviva PLC increased its holdings in ONEOK by 20.7% during the 1st quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after purchasing an additional 27,697 shares during the period. Finally, Prudential PLC purchased a new position in ONEOK during the 1st quarter valued at about $614,000. Institutional investors own 68.15% of the company’s stock.
Analyst Upgrades and Downgrades
OKE has been the topic of a number of research analyst reports. StockNews.com initiated coverage on ONEOK in a report on Thursday, May 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their target price on ONEOK from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, March 9th. UBS Group reduced their target price on ONEOK from $82.00 to $81.00 in a report on Monday, May 8th. Raymond James upped their target price on ONEOK from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, Truist Financial reduced their target price on ONEOK from $71.00 to $66.00 in a report on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.45.
ONEOK Stock Performance
ONEOK (NYSE:OKE – Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.53. ONEOK had a return on equity of 36.54% and a net margin of 11.09%. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the firm posted $0.87 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.48 earnings per share for the current fiscal year.
ONEOK Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were given a $0.955 dividend. The ex-dividend date of this dividend was Friday, April 28th. This represents a $3.82 annualized dividend and a yield of 6.12%. ONEOK’s dividend payout ratio (DPR) is presently 72.08%.
Insider Activity at ONEOK
In other ONEOK news, Director Brian L. Derksen acquired 4,900 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average cost of $59.59 per share, with a total value of $291,991.00. Following the transaction, the director now owns 18,700 shares of the company’s stock, valued at approximately $1,114,333. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Pierce Norton purchased 24,607 shares of the stock in a transaction dated Thursday, June 29th. The shares were purchased at an average cost of $60.96 per share, with a total value of $1,500,042.72. Following the acquisition, the chief executive officer now directly owns 42,017 shares of the company’s stock, valued at $2,561,356.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian L. Derksen purchased 4,900 shares of the stock in a transaction dated Wednesday, June 28th. The shares were purchased at an average cost of $59.59 per share, for a total transaction of $291,991.00. Following the completion of the acquisition, the director now directly owns 18,700 shares in the company, valued at $1,114,333. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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