ONEOK, Inc. (NYSE:OKE) Position Lifted by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,092 shares of the utilities provider’s stock after acquiring an additional 204 shares during the quarter. Legacy Capital Group California Inc.’s holdings in ONEOK were worth $803,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Marcum Wealth LLC boosted its stake in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock valued at $1,017,000 after acquiring an additional 108 shares during the last quarter. West Paces Advisors Inc. boosted its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider’s stock valued at $254,000 after acquiring an additional 114 shares during the last quarter. Morey & Quinn Wealth Partners LLC boosted its stake in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock valued at $1,560,000 after acquiring an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in ONEOK by 0.3% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider’s stock valued at $5,117,000 after acquiring an additional 132 shares during the last quarter. Finally, Visionary Wealth Advisors boosted its stake in ONEOK by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider’s stock valued at $635,000 after acquiring an additional 132 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a research note on Friday. Royal Bank Of Canada reduced their price target on shares of ONEOK from $100.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Stifel Nicolaus reduced their price target 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. Finally, JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $104.57.

ONEOK Stock Down 5.0%

ONEOK stock opened at $75.85 on Wednesday. The stock has a market cap of $47.75 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.89 and a beta of 0.99. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $81.28 and its two-hundred day moving average price is $88.21. ONEOK, Inc. has a 52 week low of $74.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 15.18%. During the same quarter last year, the company earned $1.33 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.4%. 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.