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Cetera Investment Advisers Acquires 13,902 Shares of ONEOK, Inc. (NYSE:OKE)

ONEOK logo with Energy background

Key Points

  • Cetera Investment Advisers increased its stake in ONEOK, Inc. by 2.2%, acquiring an additional 13,902 shares during the first quarter, now owning approximately 0.11% of the company valued at $65.08 million.
  • Several institutional investors have significantly adjusted their positions in ONEOK, with Kovack Advisors Inc. increasing holdings by 181.9% and Brookwood Investment Group LLC acquiring a new position valued at $404,000.
  • ONEOK recently announced a quarterly dividend of $1.03 per share, payable on August 14th, with an annualized amount of $4.12, yielding approximately 5.05% as part of a payout ratio of 80.47%.
  • MarketBeat previews top five stocks to own in September.

Cetera Investment Advisers lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 655,930 shares of the utilities provider's stock after acquiring an additional 13,902 shares during the period. Cetera Investment Advisers owned approximately 0.11% of ONEOK worth $65,081,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of ONEOK in a research 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 shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial cut their price objective on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, July 22nd. Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $104.86.

Read Our Latest Stock Analysis on OKE

ONEOK Trading Down 1.2%

Shares of NYSE:OKE traded down $1.01 during mid-day trading on Wednesday, hitting $82.46. The company had a trading volume of 663,718 shares, compared to its average volume of 3,942,706. The firm has a fifty day moving average price of $81.44 and a 200 day moving average price of $89.15. The company has a market capitalization of $51.91 billion, a PE ratio of 16.07, a price-to-earnings-growth 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, Inc. has a one year low of $75.47 and a one year high of $118.07.

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). The business 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 last year, the firm posted $1.09 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

ONEOK Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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