Wealth Enhancement Advisory Services LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 20.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,937 shares of the utilities provider's stock after buying an additional 50,272 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ONEOK were worth $28,867,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $931,000. Brighton Jones LLC increased its holdings in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of ONEOK by 16.6% in the 4th quarter. Principal Securities Inc. now owns 3,954 shares of the utilities provider's stock valued at $397,000 after acquiring an additional 563 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of ONEOK by 16.4% in the 4th quarter. Private Advisor Group LLC now owns 77,746 shares of the utilities provider's stock valued at $7,806,000 after acquiring an additional 10,927 shares during the last quarter. Finally, Waterfront Wealth Inc. purchased a new position in shares of ONEOK in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 69.13% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on OKE. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Scotiabank decreased their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Stifel Nicolaus decreased their price objective 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. Wells Fargo & Company decreased their price objective 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. Finally, Barclays decreased 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. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.
View Our Latest Stock Analysis on OKE
ONEOK Stock Performance
Shares of NYSE OKE traded up $1.08 during mid-day trading on Friday, hitting $82.25. 7,502,414 shares of the company were exchanged, compared to its average volume of 4,212,793. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a 50 day simple moving average of $83.00 and a 200-day simple moving average of $93.12. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market cap of $51.78 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.
ONEOK (NYSE:OKE - Get Free Report) last issued 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). The company 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 prior year, the business earned $1.09 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.
ONEOK Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.01%. ONEOK's dividend payout ratio is currently 80.47%.
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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