Cresset Asset Management LLC Raises Stock Position in ONEOK, Inc. $OKE

Key Points

• Cresset Asset Management LLC increased its holdings in ONEOK, Inc. by 8.2%, acquiring an additional 4,272 shares and bringing its total ownership to 56,470 shares, valued at approximately $5.6 million.
• ONEOK recently declared a quarterly dividend of $1.03 per share, resulting in a 5.6% dividend yield and an annualized payout of $4.12, with a dividend payout ratio of 80.31%.
• Despite the stock price drop of 1.1% to $74.00, equity analysts maintain a consensus rating of "Moderate Buy" for ONEOK, with a price target averaging around $103.57.

Cresset Asset Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,470 shares of the utilities provider's stock after purchasing an additional 4,272 shares during the period. Cresset Asset Management LLC's holdings in ONEOK were worth $5,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OKE. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth $32,000. First Pacific Financial purchased a new position in shares of ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK during the fourth quarter worth $37,000. Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.1%

Shares of NYSE OKE opened at $74.00 on Monday. The company's 50-day simple moving average is $80.20 and its 200-day simple moving average is $86.46. ONEOK, Inc. has a 52-week low of $73.02 and a 52-week high of $118.07. The firm has a market cap of $46.60 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results 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 net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the business earned $1.33 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKE. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Royal Bank Of Canada dropped their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. Stifel Nicolaus dropped their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.57.

ONEOK 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.

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