Mackenzie Financial Corp raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,855 shares of the utilities provider's stock after buying an additional 3,256 shares during the quarter. Mackenzie Financial Corp's holdings in ONEOK were worth $9,808,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in OKE. Greenline Partners LLC purchased a new position in ONEOK during the fourth quarter valued at $32,000. First Pacific Financial purchased a new position in ONEOK during the first quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter valued at $39,000. Hedge funds and other institutional investors own 69.13% of the company's stock.
ONEOK Stock Performance
Shares of OKE opened at $82.12 on Friday. The business has a fifty day moving average of $81.46 and a 200 day moving average of $88.95. ONEOK, Inc. has a one year low of $75.47 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a market capitalization of $51.70 billion, a P/E ratio of 16.04, a PEG ratio of 1.95 and a beta of 0.93.
ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.
ONEOK Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is currently 80.47%.
Analysts Set New Price Targets
Several research firms have recently weighed in on OKE. Raymond James Financial decreased their price target on ONEOK from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, July 22nd. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Finally, Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $104.86.
Read Our Latest Analysis on OKE
ONEOK Profile
(
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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