Disciplined Equity Management Inc. Has $1.19 Million Stake in ONEOK, Inc. (NYSE:OKE)

Disciplined Equity Management Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 50.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,015 shares of the utilities provider's stock after selling 12,200 shares during the quarter. ONEOK accounts for approximately 0.8% of Disciplined Equity Management Inc.'s holdings, making the stock its 16th biggest holding. Disciplined Equity Management Inc.'s holdings in ONEOK were worth $1,192,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its position in shares of ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after buying an additional 136,071 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $19,909,000. Americana Partners LLC raised its stake in shares of ONEOK by 258.6% in the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider's stock valued at $27,292,000 after acquiring an additional 196,038 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $34,360,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Up 1.5%

OKE traded up $1.23 during mid-day trading on Wednesday, hitting $82.95. The stock had a trading volume of 4,631,591 shares, compared to its average volume of 3,356,234. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market capitalization of $52.22 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock's fifty day simple moving average is $82.88 and its 200-day simple moving average is $94.76.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the business posted $1.09 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Barclays dropped their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Finally, Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

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.