Sunbeam Capital Management LLC Invests $329,000 in ONEOK, Inc. (NYSE:OKE)

Sunbeam Capital Management LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,274 shares of the utilities provider's stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. Greenline Partners LLC bought a new stake in ONEOK in the fourth quarter worth $32,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK in the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in ONEOK in the fourth quarter worth $39,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter valued at $40,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of ONEOK during the fourth quarter valued at about $48,000. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.69.

ONEOK Trading Down 0.7%

OKE traded down $0.57 during mid-day trading on Friday, reaching $80.11. The stock had a trading volume of 1,513,753 shares, compared to its average volume of 3,281,341. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $50.04 billion, a P/E ratio of 16.74, a P/E/G ratio of 3.77 and a beta of 1.01. The firm's fifty day simple moving average is $85.69 and its two-hundred day simple moving average is $96.54.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.14%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

About ONEOK

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.