ONEOK, Inc. (NYSE:OKE) Holdings Boosted by Energy Income Partners LLC

by · The Markets Daily

Energy Income Partners LLC boosted its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,434,728 shares of the utilities provider’s stock after buying an additional 319,487 shares during the period. ONEOK makes up about 5.6% of Energy Income Partners LLC’s holdings, making the stock its 3rd biggest position. Energy Income Partners LLC owned approximately 0.59% of ONEOK worth $275,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Rise Advisors LLC acquired a new stake in ONEOK in the first quarter valued at $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK in the first quarter valued at $26,000. HHM Wealth Advisors LLC acquired a new stake in ONEOK in the fourth quarter valued at $32,000. American National Bank acquired a new stake in ONEOK in the first quarter valued at $32,000. Finally, Security National Bank acquired a new stake in ONEOK in the fourth quarter valued at $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. Morgan Stanley raised their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Stifel Nicolaus lifted their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.83.

Read Our Latest Stock Report on OKE

ONEOK Trading Up 0.8 %

Shares of NYSE:OKE traded up $0.62 during trading on Friday, reaching $82.02. 1,826,761 shares of the stock were exchanged, compared to its average volume of 2,137,539. The firm’s 50-day moving average price is $81.39 and its 200 day moving average price is $77.69. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 4.34 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $86.20.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the company posted $2.34 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.83%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

ONEOK Company Profile

(Free Report)

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.

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