AE Wealth Management LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

AE Wealth Management LLC raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 195,457 shares of the utilities provider's stock after buying an additional 13,200 shares during the quarter. AE Wealth Management LLC's holdings in ONEOK were worth $19,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Greenline Partners LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $32,000. First Pacific Financial bought a new stake in ONEOK during the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK during the first quarter valued at about $39,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.5%

NYSE OKE traded up $0.40 on Thursday, reaching $82.07. 3,423,962 shares of the stock traded hands, compared to its average volume of 3,022,268. ONEOK, Inc. has a 12 month low of $75.47 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The company has a fifty day moving average price of $81.59 and a 200-day moving average price of $89.65. The company has a market cap of $51.67 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.90 and a beta of 0.93.

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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business earned $1.09 EPS. As a group, research analysts forecast 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 will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.02%. ONEOK's payout ratio is 80.47%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKE. JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Raymond James Financial cut their price objective on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.53.

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.