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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Greenline Partners LLC bought a new stake in ONEOK during the 4th quarter worth about $32,000. First Pacific Financial bought a new stake in ONEOK during the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK during the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James Financial lowered their price objective on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday. Citigroup lowered their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $103.53.

ONEOK Price Performance

Shares of NYSE OKE traded up $0.23 during trading hours on Tuesday, hitting $80.61. 1,524,277 shares of the stock were exchanged, compared to its average volume of 3,485,516. The company has a market cap of $50.75 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. 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 company's fifty day simple moving average is $81.97 and its two-hundred day simple moving average is $90.06. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is currently 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.