Advisor Resource Council Takes $511,000 Position in ONEOK, Inc. (NYSE:OKE)

Advisor Resource Council purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,148 shares of the utilities provider's stock, valued at approximately $511,000.

A number of other hedge funds also recently bought and sold shares of the business. Greenline Partners LLC purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $32,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. lifted its position in shares of ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 2.9%

OKE stock traded down $2.41 during midday trading on Monday, hitting $79.96. 4,193,378 shares of the company's stock were exchanged, compared to its average volume of 3,410,365. The business has a 50-day simple moving average of $82.93 and a two-hundred day simple moving average of $92.79. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $50.34 billion, a PE ratio of 15.62, a P/E/G ratio of 1.61 and a beta of 0.94. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.15%. ONEOK's payout ratio is presently 80.47%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Citigroup cut their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Barclays cut their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Finally, Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $103.69.

ONEOK 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.