Elo Mutual Pension Insurance Co Has $4.07 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Elo Mutual Pension Insurance Co cut its holdings in ONEOK, Inc. (NYSE:OKE) by 19.5% during the second quarter, Holdings Channel.com reports. The firm owned 49,903 shares of the utilities provider’s stock after selling 12,085 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in ONEOK were worth $4,070,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its position in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ONEOK by 1.5% in the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after acquiring an additional 85,736 shares in the last quarter. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at about $297,948,000. Kayne Anderson Capital Advisors LP increased its position in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research report on Monday. Finally, Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.38.

ONEOK Price Performance

Shares of NYSE OKE opened at $93.90 on Thursday. The firm has a market cap of $54.84 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The business’s 50 day moving average is $86.83 and its 200-day moving average is $82.22. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $95.26.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the business earned $1.04 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.