ONEOK, Inc. (NYSE:OKE) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 63.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,328 shares of the utilities provider's stock after selling 9,247 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in ONEOK were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Advisors LLC boosted its position in shares of ONEOK by 157.1% in the 1st quarter. Legacy Advisors LLC now owns 6,277 shares of the utilities provider's stock valued at $623,000 after purchasing an additional 3,836 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of ONEOK by 10.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 287,465 shares of the utilities provider's stock valued at $28,522,000 after purchasing an additional 27,901 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of ONEOK by 59.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 75,032 shares of the utilities provider's stock valued at $7,445,000 after purchasing an additional 28,078 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of ONEOK by 10.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,556 shares of the utilities provider's stock valued at $3,826,000 after purchasing an additional 3,638 shares during the period. Finally, EQ Wealth Advisors LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $80,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Down 2.9%

OKE opened at $79.96 on Tuesday. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The business has a 50-day moving average of $82.93 and a 200-day moving average of $92.79. 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 company has a market capitalization of $50.34 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $8.23 billion. During the same period last year, the business earned $1.09 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OKE shares. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Barclays decreased their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Finally, Scotiabank decreased their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. Six research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.69.

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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