Perella Weinberg Partners Capital Management LP Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Perella Weinberg Partners Capital Management LP increased its position in ONEOK, Inc. (NYSE:OKE) by 16.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,595 shares of the utilities provider’s stock after purchasing an additional 39,256 shares during the period. Perella Weinberg Partners Capital Management LP owned 0.07% of ONEOK worth $18,688,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. C J Advisory Inc purchased a new stake in ONEOK in the first quarter worth $26,000. Pinnacle Financial Partners Inc. purchased a new stake in ONEOK in the first quarter worth $27,000. Buffington Mohr McNeal purchased a new stake in ONEOK in the first quarter worth $28,000. IMA Wealth Inc. purchased a new stake in ONEOK in the second quarter worth $32,000. Finally, Moody National Bank Trust Division grew its stake in ONEOK by 74.4% in the first quarter. Moody National Bank Trust Division now owns 471 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 201 shares during the period. 74.69% of the stock is currently owned by institutional investors.

Shares of NYSE OKE traded up $0.15 during trading on Friday, reaching $71.14. The company had a trading volume of 761,938 shares, compared to its average volume of 1,592,233. ONEOK, Inc. has a 12-month low of $50.26 and a 12-month high of $72.38. The stock has a market cap of $29.34 billion, a PE ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.18. The business’s 50-day moving average is $68.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.79.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the firm posted $0.68 earnings per share. ONEOK’s revenue was down 17.0% compared to the same quarter last year. Research analysts forecast that ONEOK, Inc. will post 3.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, August 5th. This is a boost from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 5.00%. ONEOK’s dividend payout ratio (DPR) is 124.46%.

OKE has been the topic of several recent research reports. Citigroup upped their price target on ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Mitsubishi UFJ Financial Group upped their price target on ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday. Seaport Global Securities cut ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 target price on the stock. in a research note on Monday, April 22nd. Raymond James cut ONEOK from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. Finally, Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $71.62.

About ONEOK

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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