Tranquility Partners LLC Raises Position in ONEOK, Inc. (NYSE:OKE)

Tranquility Partners LLC boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 50.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,583 shares of the utilities provider's stock after acquiring an additional 5,917 shares during the period. Tranquility Partners LLC's holdings in ONEOK were worth $1,745,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mindset Wealth Management LLC grew its holdings in ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after acquiring an additional 106 shares during the last quarter. Marcum Wealth LLC grew its holdings in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after acquiring an additional 108 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in ONEOK by 1.9% in the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock worth $590,000 after acquiring an additional 112 shares during the last quarter. West Paces Advisors Inc. grew its holdings in ONEOK by 4.7% in the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after acquiring an additional 114 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC boosted its stake in shares of ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.5%

NYSE OKE traded up $0.38 during trading hours on Monday, reaching $81.63. 2,860,005 shares of the company's stock traded hands, compared to its average volume of 3,424,264. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The firm has a market cap of $51.39 billion, a PE ratio of 15.94, a PEG ratio of 1.59 and a beta of 0.94. The firm has a 50-day simple moving average of $82.57 and a 200 day simple moving average of $91.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

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 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 analysts' expectations of $8.23 billion. During the same period last year, the business earned $1.09 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.05%. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OKE shares. Wells Fargo & Company cut their target price 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. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank cut their target price 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. Finally, Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average price target of $104.67.

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.