Silver Oak Securities Incorporated Acquires Shares of 3,462 ONEOK, Inc. (NYSE:OKE)

Silver Oak Securities Incorporated bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,462 shares of the utilities provider's stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC increased its stake in ONEOK by 269.6% in the 1st quarter. ORG Wealth Partners LLC now owns 7,218 shares of the utilities provider's stock valued at $718,000 after buying an additional 5,265 shares during the last quarter. Centennial Wealth Advisory LLC grew its stake in ONEOK by 11.8% in the 1st quarter. Centennial Wealth Advisory LLC now owns 6,091 shares of the utilities provider's stock valued at $604,000 after purchasing an additional 641 shares during the period. State of Alaska Department of Revenue increased its position in shares of ONEOK by 9.2% during the 1st quarter. State of Alaska Department of Revenue now owns 72,716 shares of the utilities provider's stock valued at $7,214,000 after purchasing an additional 6,115 shares during the last quarter. Cadent Capital Advisors LLC raised its stake in shares of ONEOK by 0.5% during the 1st quarter. Cadent Capital Advisors LLC now owns 87,104 shares of the utilities provider's stock worth $8,642,000 after purchasing an additional 450 shares during the period. Finally, LifeWealth Investments LLC boosted its holdings in shares of ONEOK by 36.6% in the 1st quarter. LifeWealth Investments LLC now owns 4,736 shares of the utilities provider's stock worth $470,000 after buying an additional 1,269 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

OKE has been the topic of several research reports. Morgan Stanley lifted their price objective 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 dropped their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note 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 research report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $103.69.

ONEOK Trading Down 0.4%

Shares of OKE opened at $81.07 on Friday. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock has a market cap of $51.04 billion, a PE ratio of 15.83, a P/E/G ratio of 1.59 and a beta of 0.94. 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 business's 50-day moving average price is $83.00 and its 200-day moving average price is $93.42.

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). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. 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 5.08%. ONEOK's dividend payout ratio (DPR) is presently 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.

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