Mycio Wealth Partners LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

Mycio Wealth Partners LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,862 shares of the utilities provider’s stock after acquiring an additional 197 shares during the period. Mycio Wealth Partners LLC’s holdings in ONEOK were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. C J Advisory Inc purchased a new stake in shares of ONEOK during the 1st quarter worth $26,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of ONEOK during the 1st quarter worth $27,000. Buffington Mohr McNeal purchased a new stake in shares of ONEOK during the 1st quarter worth $28,000. JNBA Financial Advisors raised its stake in shares of ONEOK by 91.3% during the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Finally, IMA Wealth Inc. acquired a new position in shares of ONEOK during the 2nd quarter worth $32,000. Institutional investors own 74.05% of the company’s stock.

Several research analysts have recently issued reports on the company. Argus lifted their price target on ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Citigroup lifted their price target on ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Mitsubishi UFJ Financial Group lifted their price target on ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $72.37.

OKE stock traded down $0.60 during trading on Thursday, hitting $70.58. The stock had a trading volume of 21,934 shares, compared to its average volume of 2,200,429. The company’s 50 day moving average price is $69.49 and its two-hundred day moving average price is $67.85. ONEOK, Inc. has a 1-year low of $50.26 and a 1-year high of $72.38. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.60 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that ONEOK, Inc. will post 3.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.89 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.56 annualized dividend and a yield of 5.04%. ONEOK’s payout ratio is presently 128.06%.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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