Cadent Capital Advisors LLC Has $8.64 Million Stake in ONEOK, Inc. (NYSE:OKE)

Cadent Capital Advisors LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,104 shares of the utilities provider’s stock after purchasing an additional 450 shares during the period. ONEOK accounts for approximately 3.1% of Cadent Capital Advisors LLC’s holdings, making the stock its 10th biggest position. Cadent Capital Advisors LLC’s holdings in ONEOK were worth $8,642,000 at the end of the most recent reporting period.

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 in the 4th quarter worth $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the 4th quarter valued at approximately $39,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter valued at $40,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.0%

OKE opened at $81.35 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock’s fifty day moving average is $83.07 and its two-hundred day moving average is $93.71. The company has a market capitalization of $51.21 billion, a P/E ratio of 15.89, a PEG ratio of 1.61 and a beta of 0.94. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the company posted $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays reduced their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Scotiabank cut their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Six 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Company 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.