Caliber Wealth Management LLC KS Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Caliber Wealth Management LLC KS invested approximately $628,000 in ONEOK, purchasing 6,328 shares of the company in the 1st quarter, according to its 13F filing.
• Various institutional investors have significantly increased their stakes in ONEOK, with notable investments from Norges Bank valued at $539 million and Wellington Management boosting its stake by 433.4%.
• ONEOK announced a quarterly dividend of $1.03, with a dividend yield of 5.05%, set to be paid on August 14th to stockholders of record on August 1st.

Caliber Wealth Management LLC KS acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,328 shares of the utilities provider's stock, valued at approximately $628,000.

A number of other large investors have also recently made changes to their positions in OKE. Greenline Partners LLC purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $32,000. First Pacific Financial purchased a new position in ONEOK during the first quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter valued at $39,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial lowered their price target on ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, July 22nd. TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective for the company. Finally, Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Six equities 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.86.

ONEOK Price Performance

Shares of NYSE OKE traded down $1.20 during mid-day trading on Wednesday, reaching $82.27. The company's stock had a trading volume of 858,281 shares, compared to its average volume of 3,944,183. The stock has a fifty day moving average of $81.44 and a two-hundred day moving average of $89.15. ONEOK, Inc. has a 52 week low of $75.47 and a 52 week high of $118.07. The firm has a market capitalization of $51.79 billion, a PE ratio of 16.07, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS 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 for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is presently 80.47%.

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.