Midwest Financial Group LLC Sells 1,120 Shares of ONEOK, Inc. (NYSE:OKE)

Midwest Financial Group LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,997 shares of the utilities provider’s stock after selling 1,120 shares during the period. ONEOK accounts for 2.0% of Midwest Financial Group LLC’s portfolio, making the stock its 16th largest holding. Midwest Financial Group LLC’s holdings in ONEOK were worth $3,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Merit Financial Group LLC increased its holdings in shares of ONEOK by 11.4% in the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock valued at $1,142,000 after purchasing an additional 1,180 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $19,909,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in ONEOK during the 4th quarter worth $34,360,000. Dynamic Technology Lab Private Ltd grew its holdings in ONEOK by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock worth $1,546,000 after acquiring an additional 4,538 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider’s stock worth $28,774,000 after acquiring an additional 10,957 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Scotiabank lowered their target price on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday, June 5th. Barclays lowered their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Finally, Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Price Performance

Shares of OKE stock opened at $82.25 on Friday. The firm has a market capitalization of $51.78 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The firm has a fifty day moving average of $83.00 and a 200-day moving average of $93.12. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS 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 12.15% and a return on equity of 15.58%. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 annualized dividend and a yield of 5.01%. ONEOK’s dividend payout ratio is currently 80.47%.

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.