ONEOK, Inc. (NYSE:OKE) Shares Bought by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its holdings in ONEOK, Inc. by 4.5% in the 1st quarter, now owning 687,495 shares valued at approximately $68.2 million.
• ONEOK announced a quarterly dividend of $1.03 per share, translating to a 5.2% yield for investors, with a current payout ratio of 80.47%.
• Several analysts recently adjusted their price targets for ONEOK, with Barclays and Wells Fargo cutting theirs to $91.00 and $93.00 respectively, indicating a more cautious outlook for the stock.

Commonwealth Equity Services LLC grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 687,495 shares of the utilities provider's stock after buying an additional 29,736 shares during the quarter. Commonwealth Equity Services LLC owned about 0.11% of ONEOK worth $68,213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC raised its stake in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock valued at $1,142,000 after buying an additional 1,180 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after purchasing an additional 10,957 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in ONEOK by 146.9% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after purchasing an additional 10,728 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in ONEOK by 6.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after purchasing an additional 19,199 shares in the last quarter. Finally, Advisor Resource Council bought a new position in ONEOK during the 1st quarter valued at $511,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock opened at $79.02 on Monday. ONEOK, Inc. has a fifty-two week low of $75.47 and a fifty-two week 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 $49.75 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 0.99. The company's 50 day moving average price is $81.42 and its two-hundred day moving average price is $88.50.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.2%. ONEOK's payout ratio is presently 80.47%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKE shares. Barclays reduced 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. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada decreased their target price on ONEOK from $100.00 to $94.00 and set a "sector perform" rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $104.57.

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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