Kovack Advisors Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 181.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,668 shares of the utilities provider's stock after buying an additional 14,626 shares during the period. Kovack Advisors Inc.'s holdings in ONEOK were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. SFE Investment Counsel boosted its stake in shares of ONEOK by 0.6% during the 1st quarter. SFE Investment Counsel now owns 141,280 shares of the utilities provider's stock worth $14,018,000 after purchasing an additional 911 shares during the period. Carnegie Investment Counsel raised its holdings in shares of ONEOK by 19.7% in the 1st quarter. Carnegie Investment Counsel now owns 13,236 shares of the utilities provider's stock valued at $1,313,000 after purchasing an additional 2,177 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of ONEOK by 7.2% in the 1st quarter. AE Wealth Management LLC now owns 195,457 shares of the utilities provider's stock valued at $19,393,000 after purchasing an additional 13,200 shares in the last quarter. Burney Co. raised its holdings in shares of ONEOK by 4.3% in the 1st quarter. Burney Co. now owns 6,900 shares of the utilities provider's stock valued at $685,000 after purchasing an additional 285 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of ONEOK in the 1st quarter valued at about $57,000. 69.13% of the stock is owned by hedge funds and other institutional investors.
ONEOK Stock Up 0.3%
NYSE OKE traded up $0.21 during trading hours on Monday, hitting $81.75. 1,027,175 shares of the company traded hands, compared to its average volume of 3,961,750. The business's 50-day moving average is $81.50 and its 200-day moving average is $89.33. ONEOK, Inc. has a twelve month low of $75.47 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The stock has a market capitalization of $51.46 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.90 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 for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm 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 anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.
ONEOK Announces Dividend
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 given a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.04%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Barclays dropped their target price on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Stifel Nicolaus decreased their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company decreased their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Six 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.86.
Get Our Latest Analysis on ONEOK
About ONEOK
(
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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