ONEOK, Inc. (NYSE:OKE) Stock Position Raised by Tradewinds Capital Management LLC

Tradewinds Capital Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 268.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,330 shares of the utilities provider’s stock after acquiring an additional 6,068 shares during the quarter. Tradewinds Capital Management LLC’s holdings in ONEOK were worth $668,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $25,000. Beacon Capital Management LLC lifted its position in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $32,000. American National Bank acquired a new position in shares of ONEOK during the 1st quarter worth $32,000. Finally, Security National Bank acquired a new position in shares of ONEOK during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OKE shares. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Barclays raised their target price on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK Stock Performance

NYSE OKE traded up $0.56 during midday trading on Wednesday, hitting $82.89. The company had a trading volume of 825,848 shares, compared to its average volume of 2,821,330. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The stock has a market cap of $48.38 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 4.37 and a beta of 1.65. The firm has a fifty day simple moving average of $80.23 and a two-hundred day simple moving average of $76.07. ONEOK, Inc. has a fifty-two week low of $60.52 and a fifty-two week high of $83.31.

ONEOK (NYSE:OKE) last released 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 during 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 period last year, the firm earned $2.34 EPS. Equities analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 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.