SageOak Financial LLC Has $1.11 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

SageOak Financial LLC cut its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 27.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,179 shares of the utilities provider's stock after selling 4,318 shares during the period. ONEOK accounts for approximately 1.0% of SageOak Financial LLC's portfolio, making the stock its 13th biggest holding. SageOak Financial LLC's holdings in ONEOK were worth $1,109,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Morgan Stanley increased 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. Barclays cut their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Finally, Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.07.

ONEOK Price Performance

OKE traded down $1.49 during trading on Tuesday, hitting $80.09. The company's stock had a trading volume of 2,566,134 shares, compared to its average volume of 3,479,239. 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 stock has a market capitalization of $50.42 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. The firm's 50 day moving average price is $81.97 and its two-hundred day moving average price is $90.62. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly 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 business 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 prior year, the firm earned $1.09 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.14%. ONEOK's payout ratio is 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.