Private Advisor Group LLC Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Private Advisor Group LLC cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,138 shares of the utilities provider's stock after selling 3,608 shares during the period. Private Advisor Group LLC's holdings in ONEOK were worth $7,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its holdings in shares of ONEOK by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 5,832 shares of the utilities provider's stock worth $579,000 after purchasing an additional 284 shares in the last quarter. Retirement Planning Co of New England Inc. grew its stake in shares of ONEOK by 187.9% during the first quarter. Retirement Planning Co of New England Inc. now owns 6,483 shares of the utilities provider's stock valued at $643,000 after buying an additional 4,231 shares during the last quarter. Forum Financial Management LP boosted its position in ONEOK by 39.1% during the 1st quarter. Forum Financial Management LP now owns 10,152 shares of the utilities provider's stock valued at $1,007,000 after acquiring an additional 2,855 shares in the last quarter. Summit X LLC lifted its holdings in shares of ONEOK by 95.1% during the 1st quarter. Summit X LLC now owns 4,956 shares of the utilities provider's stock valued at $492,000 after purchasing an additional 2,416 shares during the last quarter. Finally, Bridgewater Advisors Inc. acquired a new stake in ONEOK during the 1st quarter worth about $333,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on OKE shares. Stifel Nicolaus lowered their target price 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. Citigroup decreased their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Finally, TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. 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 company's stock. According to data from MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and an average price target of $103.53.

ONEOK Stock Up 0.8%

Shares of OKE traded up $0.64 during trading hours on Thursday, reaching $82.31. The stock had a trading volume of 796,831 shares, compared to its average volume of 3,970,153. The company has a market capitalization of $51.82 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.88 and a beta of 0.93. The firm has a 50-day simple moving average of $81.66 and a 200 day simple moving average of $89.78. ONEOK, Inc. has a 12 month low of $75.47 and a 12 month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same period last year, the business posted $1.09 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.01%. ONEOK's payout ratio is currently 80.47%.

ONEOK Company Profile

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.