SL Advisors LLC Has $4.64 Million Position in ONEOK, Inc. (NYSE:OKE)

SL Advisors LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,733 shares of the utilities provider's stock after buying an additional 9,328 shares during the quarter. ONEOK comprises approximately 8.0% of SL Advisors LLC's investment portfolio, making the stock its 3rd biggest holding. SL Advisors LLC's holdings in ONEOK were worth $4,637,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Greenline Partners LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $32,000. First Pacific Financial acquired a new position in ONEOK in the first quarter valued at about $34,000. Vermillion Wealth Management Inc. bought a new position in ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in ONEOK in the first quarter valued at about $39,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $0.42 during midday trading on Friday, reaching $81.73. 1,757,598 shares of the company traded hands, compared to its average volume of 3,447,486. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. 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 $51.45 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The firm's fifty day moving average price is $82.27 and its two-hundred day moving average price is $91.55.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 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 analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced 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 of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.04%. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OKE. Scotiabank reduced their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday. Stifel Nicolaus decreased their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research 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 company an "overweight" rating in a research report on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $104.08.

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.