Empirical Finance LLC Has $866,000 Position in ONEOK, Inc. (NYSE:OKE)

Empirical Finance LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 7.4% in the 1st quarter, Holdings Channel reports. The firm owned 10,799 shares of the utilities provider’s stock after purchasing an additional 743 shares during the period. Empirical Finance LLC’s holdings in ONEOK were worth $866,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its holdings in shares of ONEOK by 5.3% during the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after buying an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of 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 during the last quarter. Presima Securities ULC lifted its holdings in shares of 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 during the last quarter. FourThought Financial Partners LLC lifted its holdings in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of ONEOK by 2.6% during the first quarter. Valeo Financial Advisors LLC now owns 6,867 shares of the utilities provider’s stock worth $556,000 after buying an additional 171 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

ONEOK stock traded up $1.76 on Friday, reaching $84.66. The company’s stock had a trading volume of 2,197,044 shares, compared to its average volume of 2,769,995. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market cap of $49.41 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 4.41 and a beta of 1.65. The business’s fifty day moving average price is $80.62 and its 200 day moving average price is $76.62. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $84.84.

ONEOK (NYSE:OKE) last posted 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 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 quarter in the previous year, the firm earned $2.34 earnings per share. Equities analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKE. JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Truist Financial boosted 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. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $84.50.

ONEOK 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.