Inscription Capital LLC Acquires Shares of 43,650 ONEOK, Inc. (NYSE:OKE)

Inscription Capital LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 43,650 shares of the utilities provider's stock, valued at approximately $4,331,000. ONEOK makes up approximately 0.7% of Inscription Capital LLC's portfolio, making the stock its 27th biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Greenline Partners LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $32,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK in the 4th quarter valued at $39,000. Canton Hathaway LLC purchased a new stake in ONEOK in the 4th quarter worth $40,000. Finally, Grove Bank & Trust raised its position in ONEOK by 87.3% during the first quarter. Grove Bank & Trust now owns 459 shares of the utilities provider's stock worth $46,000 after acquiring an additional 214 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 2.0%

Shares of OKE opened at $82.11 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-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 firm has a market capitalization of $51.69 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.09 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.02%. ONEOK's dividend payout ratio is currently 80.47%.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKE shares. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup lowered 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. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Scotiabank lowered their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Barclays dropped their price target 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. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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