ONEOK, Inc. (NYSE:OKE) Shares Purchased by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,491 shares of the utilities provider’s stock after acquiring an additional 301 shares during the period. Stokes Capital Advisors LLC’s holdings in ONEOK were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its position in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after buying an additional 144 shares in the last quarter. Presima Securities ULC increased its position in ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after buying an additional 150 shares in the last quarter. FourThought Financial Partners LLC grew its position in shares of ONEOK by 3.8% in the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 161 shares during the period. Cooper Financial Group grew its position in shares of ONEOK by 1.8% in the first quarter. Cooper Financial Group now owns 10,257 shares of the utilities provider’s stock valued at $822,000 after purchasing an additional 182 shares during the period. Finally, Monarch Capital Management Inc. grew its position in shares of ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.1 %

Shares of OKE traded up $0.12 during midday trading on Friday, reaching $80.87. 378,133 shares of the company were exchanged, compared to its average volume of 2,823,064. The stock has a 50-day moving average price of $80.05 and a 200-day moving average price of $75.61. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 4.32 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $60.52 and a 1-year high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Research analysts expect that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Truist Financial lifted their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Finally, US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.50.

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.