Csenge Advisory Group Sells 7,489 Shares of ONEOK, Inc. (NYSE:OKE)

Csenge Advisory Group lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 34.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,195 shares of the utilities provider's stock after selling 7,489 shares during the quarter. Csenge Advisory Group's holdings in ONEOK were worth $1,408,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in ONEOK by 0.8% in the fourth 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 grew its holdings in ONEOK by 2.6% during 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 in the last quarter. Northern Trust Corp lifted its stake in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after purchasing an additional 864,392 shares during the last quarter. Norges Bank bought a new position in ONEOK during the 4th quarter worth $539,554,000. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $469,038,000 after purchasing an additional 117,901 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Raymond James Financial reduced their target price on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.53.

ONEOK Trading Up 0.6%

Shares of OKE traded up $0.52 during mid-day trading on Wednesday, reaching $81.26. The stock had a trading volume of 705,818 shares, compared to its average volume of 3,482,400. 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 cap of $51.16 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.88 and a beta of 0.93. The business's fifty day moving average is $81.97 and its 200 day moving average is $90.06. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio is presently 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.