Tocqueville Asset Management L.P. Sells 645 Shares of ONEOK, Inc. (NYSE:OKE)

Tocqueville Asset Management L.P. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,224 shares of the utilities provider’s stock after selling 645 shares during the period. Tocqueville Asset Management L.P.’s holdings in ONEOK were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OKE. Sheets Smith Wealth Management increased its position in shares of ONEOK by 0.3% during the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after purchasing an additional 139 shares during the period. Venturi Wealth Management LLC boosted its stake in 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 in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake 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 boosted its stake 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. Finally, FourThought Financial Partners LLC boosted its stake in 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 in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKE. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

NYSE OKE traded up $0.03 on Friday, hitting $83.47. 3,093,305 shares of the company were exchanged, compared to its average volume of 2,208,576. The firm has a 50 day moving average of $81.30 and a two-hundred day moving average of $77.25. The company has a market cap of $48.72 billion, a P/E ratio of 19.41, a P/E/G ratio of 4.42 and a beta of 1.65. 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, Inc. has a 1-year low of $60.58 and a 1-year high of $86.20.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the prior year, the company earned $2.34 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.01 EPS for the current year.

ONEOK Announces Dividend

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. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.74%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.