Czech National Bank Raises Stake in ONEOK, Inc. (NYSE:OKE)

Czech National Bank lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 8.5% during the second quarter, Holdings Channel reports. The fund owned 111,219 shares of the utilities provider’s stock after buying an additional 8,719 shares during the quarter. Czech National Bank’s holdings in ONEOK were worth $9,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after purchasing an additional 2,153,295 shares during the period. Northern Trust Corp lifted its holdings in ONEOK by 1.5% in the fourth 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 during the period. Norges Bank purchased a new stake in ONEOK in the 4th quarter worth approximately $297,948,000. Kayne Anderson Capital Advisors LP boosted its position in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley boosted their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.50.

ONEOK Trading Up 0.1 %

Shares of OKE stock traded up $0.10 during trading on Monday, hitting $85.10. 316,684 shares of the stock traded hands, compared to its average volume of 2,763,485. The firm has a market capitalization of $49.67 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $86.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm’s fifty day moving average price is $81.67 and its 200-day moving average price is $78.58.

ONEOK (NYSE:OKE) last announced 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 net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

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.