Gentry Private Wealth LLC Purchases Shares of 5,600 ONEOK, Inc. (NYSE:OKE)

Gentry Private Wealth LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,600 shares of the utilities provider’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new stake in ONEOK during the first quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in ONEOK during the second quarter worth approximately $31,000. American National Bank bought a new stake in ONEOK during the first quarter worth approximately $32,000. Finally, Manchester Capital Management LLC boosted its holdings in ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $89.92.

ONEOK Stock Performance

NYSE:OKE opened at $91.06 on Friday. The firm’s fifty day simple moving average is $85.25 and its 200 day simple moving average is $81.13. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $53.15 billion, a PE ratio of 21.18, a PEG ratio of 3.66 and a beta of 1.67. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $93.00.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.05 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.35%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

ONEOK Company 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.