U.S. Capital Wealth Advisors LLC Acquires 42,422 Shares of ONEOK, Inc. (NYSE:OKE)

U.S. Capital Wealth Advisors LLC grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 71.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,705 shares of the utilities provider's stock after acquiring an additional 42,422 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in ONEOK were worth $10,091,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKE. Vanguard Group Inc. raised its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Geode Capital Management LLC raised its stake in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after acquiring an additional 357,015 shares in the last quarter. Northern Trust Corp raised its stake in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares in the last quarter. Norges Bank acquired a new position in ONEOK during the fourth quarter worth about $539,554,000. Finally, Bank of New York Mellon Corp raised its stake in ONEOK by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock worth $469,038,000 after acquiring an additional 117,901 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on OKE. Scotiabank lowered their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.08.

ONEOK Trading Down 0.5%

NYSE OKE opened at $81.73 on Monday. The firm has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a PEG ratio of 1.61 and a beta of 0.93. The business has a fifty day simple moving average of $82.27 and a 200 day simple moving average of $91.46. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly 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 company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the previous year, the company posted $1.09 earnings per share. On average, 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. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio is presently 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.

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