Mcintyre Freedman & Flynn Investment Advisers Inc. Invests $412,000 in ONEOK, Inc. (NYSE:OKE)

Key Points

• Mcintyre Freedman & Flynn Investment Advisers Inc. has invested approximately $412,000 in ONEOK, acquiring 4,148 shares during the first quarter.
• Analysts have mixed ratings for ONEOK, with a consensus rating of "Moderate Buy" and an average price target of $104.86.
• ONEOK recently announced a quarterly dividend of $1.03 per share, providing an annual yield of 5.0%, with a payout ratio of 80.47%.

Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,148 shares of the utilities provider's stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Marcum Wealth LLC grew its position in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 108 shares during the last quarter. West Paces Advisors Inc. lifted its stake in shares of ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after buying an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC grew its position in ONEOK by 0.8% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after buying an additional 130 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in ONEOK by 0.3% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock valued at $5,117,000 after acquiring an additional 132 shares during the period. Finally, Visionary Wealth Advisors raised its holdings in ONEOK by 2.1% in the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock valued at $635,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OKE shares. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Stifel Nicolaus decreased 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. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $104.86.

ONEOK Stock Performance

Shares of NYSE: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. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. ONEOK, Inc. has a twelve month low of $75.47 and a twelve month high of $118.07. The firm has a market cap of $51.70 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.0%. ONEOK's dividend payout ratio is currently 80.47%.

About ONEOK

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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