Brasada Capital Management LP grew its stake in ONEOK, Inc. (NYSE:OKE) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,520 shares of the utilities provider’s stock after acquiring an additional 7,594 shares during the quarter. ONEOK comprises about 2.4% of Brasada Capital Management LP’s portfolio, making the stock its 8th biggest position. Brasada Capital Management LP’s holdings in ONEOK were worth $8,068,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in ONEOK by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock worth $207,436,000 after purchasing an additional 671,577 shares during the period. Teachers Advisors LLC lifted its position in ONEOK by 0.9% during the third quarter. Teachers Advisors LLC now owns 835,079 shares of the utilities provider’s stock worth $56,610,000 after purchasing an additional 7,259 shares during the period. Legal & General Group Plc lifted its position in ONEOK by 4.1% during the third quarter. Legal & General Group Plc now owns 2,356,615 shares of the utilities provider’s stock worth $159,755,000 after purchasing an additional 93,624 shares during the period. Morgan Stanley lifted its position in ONEOK by 29.3% during the third quarter. Morgan Stanley now owns 3,060,954 shares of the utilities provider’s stock worth $207,504,000 after purchasing an additional 693,501 shares during the period. Finally, First Hawaiian Bank lifted its position in ONEOK by 81.6% during the fourth quarter. First Hawaiian Bank now owns 4,758 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 2,138 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.
In other news, Director Eduardo A. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the director now owns 15,536 shares of the company’s stock, valued at $1,037,028. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.08. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 29th will be paid a $0.865 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.46 annualized dividend and a dividend yield of 5.20%. This is an increase from ONEOK’s previous quarterly dividend of $0.86. ONEOK’s dividend payout ratio is currently 124.46%.
OKE has been the subject of several recent analyst reports. Seaport Global Securities cut 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. Mizuho set a $73.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. Evercore ISI initiated coverage on ONEOK in a research note on Tuesday, February 5th. They set a $68.00 target price for the company. Finally, Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, May 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $71.73.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by Rockland Register and is the sole property of of Rockland Register. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://rocklandregister.com/2019/05/14/oneok-inc-oke-shares-bought-by-brasada-capital-management-lp.html.
ONEOK Company Profile
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.
Further Reading: What strategies should day traders use to execute a trade?
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.