Wealthspire Advisors LLC Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

Wealthspire Advisors LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 58.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,752 shares of the utilities provider's stock after selling 30,327 shares during the quarter. Wealthspire Advisors LLC's holdings in ONEOK were worth $2,158,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Greenline Partners LLC purchased a new stake in ONEOK during the 4th quarter valued at approximately $32,000. First Pacific Financial purchased a new position in ONEOK during the first quarter valued at $34,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK in the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the 4th quarter worth $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of ONEOK during the 1st quarter valued at about $39,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 1.3%

Shares of NYSE OKE traded down $0.95 during mid-day trading on Friday, reaching $74.53. The company had a trading volume of 3,159,225 shares, compared to its average volume of 3,619,503. The stock has a market cap of $46.94 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. ONEOK, Inc. has a 52 week low of $74.23 and a 52 week high of $118.07. The business's 50-day moving average is $80.95 and its 200-day moving average is $87.65. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the company posted $1.33 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barclays lowered their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.57.

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.