NuWave Investment Management LLC Acquires 4,035 Shares of ONEOK, Inc. (NYSE:OKE)
NuWave Investment Management LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6,207.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,100 shares of the utilities provider’s stock after purchasing an additional 4,035 shares during the quarter. NuWave Investment Management LLC’s holdings in ONEOK were worth $282,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of OKE. Norges Bank bought a new position in ONEOK during the fourth quarter worth about $209,832,000. BlackRock Inc. boosted its position in shares of ONEOK by 7.9% in the first quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock valued at $3,115,917,000 after acquiring an additional 3,261,539 shares during the period. Ronna Sue Cohen boosted its position in shares of ONEOK by 6,877.6% in the first quarter. Ronna Sue Cohen now owns 2,706,461 shares of the utilities provider’s stock valued at $2,706,000 after acquiring an additional 2,667,673 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of ONEOK by 39.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,650,200 shares of the utilities provider’s stock valued at $89,021,000 after acquiring an additional 465,583 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of ONEOK by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock valued at $287,526,000 after acquiring an additional 415,385 shares during the period. Hedge funds and other institutional investors own 74.69% of the company’s stock.
A number of equities analysts have recently commented on OKE shares. Mitsubishi UFJ Financial Group started coverage on shares of ONEOK in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $74.00 price objective for the company. Raymond James started coverage on shares of Solar Capital in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 price objective for the company. Seaport Global Securities lowered shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price objective for the company. in a research report on Monday, April 22nd. UBS Group lowered shares of Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.45.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.70 billion. ONEOK had a net margin of 9.98% and a return on equity of 18.47%. During the same period in the previous year, the business posted $0.64 earnings per share. Analysts anticipate that ONEOK, Inc. will post 3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.89 per share. The ex-dividend date is Monday, August 5th. This is an increase from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 5.35%. ONEOK’s dividend payout ratio (DPR) is 124.46%.
ONEOK, Inc, together with its subsidiaries, engages in the 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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