Benjamin Edwards Inc. Has $24.42 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• Benjamin Edwards Inc. has increased its stake in ONEOK, Inc. by 8.3%, acquiring an additional 18,834 shares, bringing its total holdings to 246,098 shares worth approximately $24.4 million.
• Institutional investors own about 69.13% of ONEOK's stock, with significant increases from firms like Goldman Sachs and Vanguard Group.
• ONEOK announced a quarterly dividend of $1.03 per share, which represents a yield of 5.5%, aligning with its 80.31% dividend payout ratio.

Benjamin Edwards Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,098 shares of the utilities provider's stock after buying an additional 18,834 shares during the quarter. Benjamin Edwards Inc.'s holdings in ONEOK were worth $24,418,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OKE. Vanguard Group Inc. raised its holdings in shares of ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after buying an additional 1,971,147 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ONEOK by 43.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider's stock valued at $585,807,000 after buying an additional 1,788,433 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ONEOK by 9,596.3% in the first quarter. GAMMA Investing LLC now owns 1,189,251 shares of the utilities provider's stock valued at $117,997,000 after buying an additional 1,176,986 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 1.3%

Shares of ONEOK stock traded down $0.95 during trading on Friday, hitting $74.53. 3,159,225 shares of the company were exchanged, compared to its average volume of 3,661,766. The firm has a market capitalization of $46.94 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. ONEOK, Inc. has a 1-year low of $74.23 and a 1-year high of $118.07. The firm's fifty day moving average price is $80.95 and its 200 day moving average price is $87.39. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the firm earned $1.33 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK's payout ratio is currently 80.31%.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKE shares. Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective for the company. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $104.57.

ONEOK Company 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.