ONEOK, Inc. (NYSE:OKE) Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,046 shares of the utilities provider's stock after selling 4,452 shares during the quarter. Kingsview Wealth Management LLC's holdings in ONEOK were worth $3,577,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OKE. Vanguard Group Inc. boosted its position in shares of ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after purchasing an additional 558,789 shares during the period. Geode Capital Management LLC boosted its position in shares of ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp boosted its position in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares during the period. Norges Bank acquired a new stake in ONEOK during the 4th quarter worth about $539,554,000. Finally, Bank of New York Mellon Corp boosted its position in ONEOK by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock worth $469,038,000 after acquiring an additional 117,901 shares during the period. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on OKE. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Barclays reduced their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday. Finally, TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $103.07.

ONEOK Stock Up 2.7%

NYSE:OKE opened at $83.42 on Friday. The firm has a market capitalization of $52.52 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock's 50 day moving average price is $81.97 and its two-hundred day moving average price is $90.21. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.09 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio is 80.47%.

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.

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