Farther Finance Advisors LLC Has $1.91 Million Stake in ONEOK, Inc. (NYSE:OKE)

Farther Finance Advisors LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 173.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,164 shares of the utilities provider's stock after purchasing an additional 12,166 shares during the period. Farther Finance Advisors LLC's holdings in ONEOK were worth $1,907,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OKE. Greenline Partners LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $32,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK in the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the 4th quarter valued at about $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the 4th quarter valued at about $40,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of ONEOK during the 4th quarter worth about $48,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE:OKE traded up $1.33 during midday trading on Friday, reaching $83.98. The stock had a trading volume of 2,981,283 shares, compared to its average volume of 4,083,505. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The firm's fifty day simple moving average is $82.97 and its 200-day simple moving average is $94.48. The stock has a market capitalization of $52.87 billion, a P/E ratio of 17.57, a PEG ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the business earned $1.09 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is presently 80.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Scotiabank dropped their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Wells Fargo & Company decreased their price objective 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. Stifel Nicolaus dropped their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Six investment 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

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.