ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Sage Advisors LLC

Sage Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,455 shares of the utilities provider's stock after selling 4,284 shares during the period. ONEOK makes up approximately 3.7% of Sage Advisors LLC's holdings, making the stock its 8th biggest holding. Sage Advisors LLC's holdings in ONEOK were worth $5,205,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Advisors Management Group Inc. ADV boosted its holdings in ONEOK by 1.7% in the first quarter. Advisors Management Group Inc. ADV now owns 8,661 shares of the utilities provider's stock worth $859,000 after acquiring an additional 142 shares in the last quarter. Smith Salley Wealth Management acquired a new stake in ONEOK in the 1st quarter worth approximately $202,000. Saxon Interests Inc. grew its position in ONEOK by 2.8% during the 1st quarter. Saxon Interests Inc. now owns 5,450 shares of the utilities provider's stock worth $541,000 after purchasing an additional 148 shares during the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in ONEOK during the 1st quarter valued at approximately $565,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK during the 1st quarter valued at approximately $39,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OKE shares. Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays cut their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut 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. Finally, Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.67.

ONEOK Price Performance

Shares of OKE stock traded up $1.03 during mid-day trading on Wednesday, hitting $82.02. 3,055,873 shares of the stock were exchanged, compared to its average volume of 3,438,185. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. 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 company has a market cap of $51.63 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The firm has a fifty day moving average of $82.50 and a 200 day moving average of $91.90.

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 business had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 business posted $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.02%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is 80.47%.

ONEOK 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.