ONEOK, Inc. (NYSE:OKE) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,329 shares of the utilities provider’s stock after selling 317 shares during the quarter. Daymark Wealth Partners LLC’s holdings in ONEOK were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Norges Bank purchased a new stake in ONEOK during the fourth quarter valued at about $539,554,000. Wellington Management Group LLP boosted its holdings in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in ONEOK during the fourth quarter valued at approximately $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK during the fourth quarter valued at approximately $177,045,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 0.7%

Shares of OKE opened at $81.69 on Wednesday. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $51.43 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.77 and a beta of 0.94. The stock’s 50-day moving average price is $82.88 and its 200 day moving average price is $94.76.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.04%. ONEOK’s payout ratio is 80.47%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research reports. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Scotiabank reduced their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Six equities 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.