Tompkins Financial Corp Takes Position in ONEOK, Inc. (NYSE:OKE)

Tompkins Financial Corp purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,006 shares of the utilities provider's stock, valued at approximately $1,191,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McAdam LLC lifted its holdings in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its stake in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after buying an additional 100 shares during the period. L.M. Kohn & Company increased its stake in ONEOK by 4.5% during the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider's stock worth $247,000 after buying an additional 105 shares during the period. Mindset Wealth Management LLC increased its stake in ONEOK by 0.7% during the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after buying an additional 106 shares during the period. Finally, Marcum Wealth LLC increased its stake in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after buying an additional 108 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $0.06 during midday trading on Friday, hitting $80.62. The company's stock had a trading volume of 8,053,036 shares, compared to its average volume of 3,304,615. The stock has a market capitalization of $50.36 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.77 and a beta of 1.01. The stock's 50 day simple moving average is $85.25 and its 200 day simple moving average is $96.27. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OKE shares. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company dropped 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. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, Scotiabank dropped their target price on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating for the company in a research report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $104.69.

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.