Tectonic Advisors LLC Buys 7,817 Shares of ONEOK, Inc. (NYSE:OKE)

Tectonic Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,028 shares of the utilities provider's stock after purchasing an additional 7,817 shares during the period. ONEOK comprises about 0.7% of Tectonic Advisors LLC's holdings, making the stock its 25th biggest holding. Tectonic Advisors LLC's holdings in ONEOK were worth $11,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter valued at $32,000. First Pacific Financial acquired a new position in ONEOK during the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK during the first quarter valued at $39,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Wells Fargo & Company lowered their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday. Finally, Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Seven 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's stock. According to data from MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.07.

ONEOK Price Performance

Shares of ONEOK stock traded up $2.18 during midday trading on Friday, hitting $83.42. 4,506,632 shares of the company were exchanged, compared to its average volume of 3,495,864. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a market cap of $52.52 billion, a P/E ratio of 16.29, a PEG ratio of 1.53 and a beta of 0.93. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a 50 day simple moving average of $81.94 and a 200-day simple moving average of $90.33.

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 analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 4.94%. ONEOK's dividend payout ratio is 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.