Twelve Points Wealth Management LLC Has $2.98 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Twelve Points Wealth Management LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,045 shares of the utilities provider's stock after purchasing an additional 3,403 shares during the period. ONEOK comprises 0.8% of Twelve Points Wealth Management LLC's holdings, making the stock its 25th largest position. Twelve Points Wealth Management LLC's holdings in ONEOK were worth $2,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Greenline Partners LLC bought a new position in shares of ONEOK in the 4th quarter valued at about $32,000. First Pacific Financial bought a new position in shares of ONEOK in the 1st quarter valued at about $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the 4th quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of ONEOK in the 1st quarter valued at about $39,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 0.6%

Shares of OKE traded down $0.47 during trading hours on Wednesday, hitting $81.13. The stock had a trading volume of 3,242,444 shares, compared to its average volume of 3,459,661. 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 50 day simple moving average of $81.99 and a 200-day simple moving average of $91.25. The firm has a market capitalization of $51.07 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07.

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 the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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 $1.03 dividend. 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 5.08%. ONEOK's dividend payout ratio is presently 80.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen began coverage on ONEOK in a report on Monday. They set a "hold" rating and a $91.00 price target for the company. JPMorgan Chase & Co. boosted their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company cut their target price 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $103.14.

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.