Elevation Point Wealth Partners LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,507 shares of the utilities provider's stock, valued at approximately $348,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in OKE. Greenline Partners LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $32,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK in the fourth quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the fourth quarter worth approximately $39,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter worth approximately $40,000. Finally, J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 69.13% of the company's stock.
ONEOK Trading Down 2.0%
NYSE:OKE opened at $82.11 on Tuesday. The firm has a market cap of $51.69 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The stock has a fifty day moving average price of $83.14 and a 200 day moving average price of $93.79. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.
ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.
ONEOK Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.
Analyst Ratings Changes
Several brokerages recently weighed in on OKE. Barclays lowered their price objective 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. Scotiabank lowered their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.
Get Our Latest Research Report on ONEOK
About ONEOK
(
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.
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