Adamsbrown Wealth Consultants LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,337 shares of the utilities provider’s stock after selling 167 shares during the period. ONEOK makes up 0.5% of Adamsbrown Wealth Consultants LLC’s holdings, making the stock its 28th biggest position. Adamsbrown Wealth Consultants LLC’s holdings in ONEOK were worth $1,522,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth $32,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK in the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the fourth quarter valued at $39,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter valued at $40,000. Finally, J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Wall Street Analyst Weigh In
OKE has been the subject of a number of recent analyst reports. Scotiabank cut their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.69.
ONEOK Price Performance
Shares of OKE opened at $81.10 on Friday. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $83.85 and its 200 day moving average price is $95.59. The company has a market cap of $50.66 billion, a P/E ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.
ONEOK (NYSE:OKE – Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.
ONEOK Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) 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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