Panagora Asset Management Inc. Has $1.48 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Panagora Asset Management Inc. lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 21.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,188 shares of the utilities provider’s stock after selling 5,082 shares during the period. Panagora Asset Management Inc.’s holdings in ONEOK were worth $1,483,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of ONEOK by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 446,125 shares of the utilities provider’s stock worth $31,327,000 after acquiring an additional 31,249 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of ONEOK by 13.5% in the fourth quarter. New York Life Investment Management LLC now owns 90,552 shares of the utilities provider’s stock valued at $6,359,000 after purchasing an additional 10,791 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of ONEOK by 3.0% during the 4th quarter. Great Valley Advisor Group Inc. now owns 7,524 shares of the utilities provider’s stock worth $528,000 after buying an additional 219 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of ONEOK by 7.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,922 shares of the utilities provider’s stock worth $205,000 after buying an additional 195 shares during the period. Finally, Natixis Advisors L.P. grew its stake in ONEOK by 14.3% in the 4th quarter. Natixis Advisors L.P. now owns 326,785 shares of the utilities provider’s stock valued at $22,946,000 after buying an additional 40,928 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $92.36 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a market cap of $53.91 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 4.42 and a beta of 1.65. The company has a 50 day moving average of $84.16 and a 200-day moving average of $80.40. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $92.61.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company earned $1.04 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Wells Fargo & Company raised their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $88.46.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.