Silver Oak Securities Incorporated Invests $341,000 in ONEOK, Inc. (NYSE:OKE)

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

Several other institutional investors have also recently made changes to their positions in OKE. Merit Financial Group LLC increased its holdings in ONEOK by 11.4% in the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after acquiring an additional 1,180 shares in the last quarter. Cinctive Capital Management LP bought a new position in ONEOK in the 4th quarter worth approximately $19,909,000. Dynamic Technology Lab Private Ltd boosted its stake in ONEOK by 41.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock worth $1,546,000 after purchasing an additional 4,538 shares during the period. Capital Investment Advisors LLC boosted its stake in ONEOK by 3.9% in the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after purchasing an additional 10,957 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after purchasing an additional 10,728 shares during the period. Institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OKE shares. TD Cowen started coverage on ONEOK in a research note on Monday. They issued a "hold" rating and a $91.00 price target for the company. Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Stifel Nicolaus dropped 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. Finally, Wells Fargo & Company lowered their target price 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.

ONEOK Trading Down 2.4%

NYSE:OKE traded down $1.96 during midday trading on Monday, hitting $80.18. 3,927,604 shares of the company traded hands, compared to its average volume of 3,449,409. The firm's fifty day moving average is $82.27 and its 200-day moving average is $91.46. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The firm has a market capitalization of $50.48 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.61 and a beta of 0.93. 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 released its quarterly earnings results 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 net margin of 12.15% and a return on equity of 15.58%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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