4,074 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Brookwood Investment Group LLC

Key Points

• Brookwood Investment Group LLC has acquired a new position in ONEOK, Inc., purchasing 4,074 shares valued at approximately $404,000 during the first quarter.
• ONEOK recently reported a quarterly earnings miss, with $1.04 earnings per share compared to the consensus estimate of $1.28, noting a revenue of $6.49 billion against the expected $8.23 billion.
• The company declared a quarterly dividend of $1.03 per share, scheduled for payment on August 14th, representing an annualized yield of 5.05%.

Brookwood Investment Group LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,074 shares of the utilities provider's stock, valued at approximately $404,000.

Several other hedge funds also recently made changes to their positions in the company. Kovack Advisors Inc. lifted its holdings in shares of ONEOK by 181.9% in the 1st quarter. Kovack Advisors Inc. now owns 22,668 shares of the utilities provider's stock worth $2,249,000 after purchasing an additional 14,626 shares during the last quarter. SFE Investment Counsel lifted its holdings in shares of ONEOK by 0.6% in the 1st quarter. SFE Investment Counsel now owns 141,280 shares of the utilities provider's stock worth $14,018,000 after purchasing an additional 911 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in shares of ONEOK by 19.7% in the 1st quarter. Carnegie Investment Counsel now owns 13,236 shares of the utilities provider's stock worth $1,313,000 after purchasing an additional 2,177 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of ONEOK by 7.2% in the 1st quarter. AE Wealth Management LLC now owns 195,457 shares of the utilities provider's stock worth $19,393,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Burney Co. lifted its holdings in shares of ONEOK by 4.3% in the 1st quarter. Burney Co. now owns 6,900 shares of the utilities provider's stock worth $685,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 1.5%

Shares of NYSE:OKE traded up $1.22 on Tuesday, reaching $83.03. The company had a trading volume of 1,090,156 shares, compared to its average volume of 3,949,533. ONEOK, Inc. has a twelve month low of $75.47 and a twelve month high of $118.07. The stock has a 50-day moving average price of $81.44 and a 200 day moving average price of $89.19. The stock has a market capitalization of $52.27 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.96%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OKE. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Stifel Nicolaus dropped their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective on ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 22nd. Finally, Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.86.

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.