Heck Capital Advisors LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Heck Capital Advisors LLC reduced its holdings in ONEOK, Inc. by 68.5%, owning 4,036 shares worth approximately $400,000 after selling 8,768 shares.
• Multiple institutional investors have entered new positions in ONEOK, and currently, 69.13% of the stock is owned by hedge funds and other institutional investors.
• ONEOK has declared a quarterly dividend of $1.03, resulting in an annualized yield of 5.6%, scheduled for payment on August 14th.

Heck Capital Advisors LLC decreased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 68.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,036 shares of the utilities provider's stock after selling 8,768 shares during the quarter. Heck Capital Advisors LLC's holdings in ONEOK were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of OKE. Vanguard Group Inc. grew its position in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after buying an additional 5,076,705 shares during the period. Nuveen LLC acquired a new stake in shares of ONEOK during the 1st quarter worth approximately $440,535,000. Charles Schwab Investment Management Inc. grew its position in shares of ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after buying an additional 2,542,449 shares during the period. Price T Rowe Associates Inc. MD grew its position in ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the period. Finally, GQG Partners LLC grew its position in ONEOK by 148.2% in the 1st quarter. GQG Partners LLC now owns 3,065,067 shares of the utilities provider's stock valued at $304,116,000 after purchasing an additional 1,830,055 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OKE shares. Royal Bank Of Canada reduced their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday. 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. Stifel Nicolaus dropped their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Six equities 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 stock. According to MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.57.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.53 during mid-day trading on Thursday, reaching $74.80. 3,106,860 shares of the company's stock were exchanged, compared to its average volume of 3,771,225. The firm has a market capitalization of $47.11 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. ONEOK, Inc. has a 52 week low of $73.02 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a 50-day moving average price of $80.36 and a two-hundred day moving average price of $86.83.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the firm posted $1.33 EPS. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.5%. ONEOK's dividend payout ratio (DPR) is 80.31%.

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.