Ignite Planners LLC Purchases 8,519 Shares of ONEOK, Inc. (NYSE:OKE)

Ignite Planners LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 318.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,195 shares of the utilities provider's stock after purchasing an additional 8,519 shares during the quarter. Ignite Planners LLC's holdings in ONEOK were worth $1,111,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Greenline Partners LLC bought a new stake in ONEOK during the 4th quarter worth approximately $32,000. First Pacific Financial bought a new stake in shares of ONEOK in the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK in the 1st quarter valued at $39,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.8%

Shares of OKE stock traded down $0.63 on Friday, hitting $81.38. The stock had a trading volume of 1,181,040 shares, compared to its average volume of 3,968,831. The business has a 50 day moving average of $81.59 and a 200 day moving average of $89.65. The stock has a market cap of $51.23 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a 12-month low of $75.47 and a 12-month high of $118.07.

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 the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.06%. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OKE shares. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Raymond James Financial cut their target price on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday. Six investment 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. According to data from MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $103.53.

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.