ONEOK, Inc. (NYSE:OKE) Shares Purchased by West Paces Advisors Inc.

West Paces Advisors Inc. boosted its position in ONEOK, Inc. (NYSE:OKE) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,126 shares of the utilities provider’s stock after buying an additional 599 shares during the quarter. West Paces Advisors Inc.’s holdings in ONEOK were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. L.M. Kohn & Company lifted its holdings in ONEOK by 4.5% in the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider’s stock worth $247,000 after buying an additional 105 shares in the last quarter. Mindset Wealth Management LLC raised its stake in shares of ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider’s stock valued at $1,618,000 after purchasing an additional 106 shares in the last quarter. Marcum Wealth LLC raised its stake in shares of ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock valued at $1,017,000 after purchasing an additional 108 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of ONEOK by 1.9% in the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider’s stock valued at $590,000 after purchasing an additional 112 shares in the last quarter. Finally, Emerald Advisors LLC raised its stake in shares of ONEOK by 3.2% in the 4th quarter. Emerald Advisors LLC now owns 4,244 shares of the utilities provider’s stock valued at $426,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $81.13 on Tuesday. The firm’s 50 day moving average is $83.11 and its two-hundred day moving average is $94.85. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market capitalization of $51.07 billion, a P/E ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Analysts anticipate 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 was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. ONEOK’s payout ratio is currently 80.47%.

Analyst Ratings Changes

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut 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 note on Thursday, May 1st. Scotiabank dropped their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Finally, Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Profile

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.