IHT Wealth Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,311 shares of the utilities provider’s stock after buying an additional 2,610 shares during the period. IHT Wealth Management LLC’s holdings in ONEOK were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC purchased a new stake in ONEOK during the first quarter worth about $25,000. Burleson & Company LLC acquired a new position in ONEOK during the first quarter worth about $29,000. City Holding Co. acquired a new position in ONEOK during the first quarter worth about $30,000. Denali Advisors LLC acquired a new position in ONEOK during the first quarter worth about $30,000. Finally, First National Bank of South Miami raised its position in ONEOK by 253.5% during the first quarter. First National Bank of South Miami now owns 760 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 545 shares during the last quarter. 63.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OKE stock opened at $53.46 on Thursday. ONEOK, Inc. has a one year low of $23.28 and a one year high of $57.55. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 2.24. The stock’s 50 day moving average is $54.65. The firm has a market capitalization of $23.82 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 2.63 and a beta of 2.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 7.00%. ONEOK’s dividend payout ratio is currently 263.38%.
A number of brokerages have issued reports on OKE. Morgan Stanley lifted their target price on shares of ONEOK from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, June 18th. Royal Bank of Canada lifted their target price on shares of ONEOK from $49.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 4th. Wells Fargo & Company lifted their target price on shares of ONEOK from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. TheStreet raised shares of ONEOK from a “c+” rating to a “b-” rating in a research report on Wednesday, April 28th. Finally, Credit Suisse Group boosted their price objective on shares of ONEOK from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, May 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. ONEOK has an average rating of “Hold” and an average target price of $44.82.
ONEOK, Inc, together with its subsidiaries, engages in 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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