ONEOK, Inc. (NYSE:OKE) Shares Sold by Davis R M Inc.

Davis R M Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,612 shares of the utilities provider’s stock after selling 444 shares during the quarter. Davis R M Inc.’s holdings in ONEOK were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Dfpg Investments LLC acquired a new position in shares of ONEOK during the fourth quarter worth about $203,000. BKM Wealth Management LLC acquired a new position in shares of ONEOK during the fourth quarter worth about $107,000. Advisor Resource Council acquired a new position in shares of ONEOK during the fourth quarter worth about $367,000. SG Americas Securities LLC boosted its holdings in ONEOK by 44.6% during the fourth quarter. SG Americas Securities LLC now owns 76,710 shares of the utilities provider’s stock worth $5,387,000 after buying an additional 23,664 shares in the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in ONEOK during the fourth quarter worth about $381,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 0.9 %

Shares of OKE traded down $0.72 on Tuesday, hitting $83.71. 1,226,409 shares of the stock traded hands, compared to its average volume of 2,759,414. 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 firm has a market capitalization of $48.86 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.42 and a beta of 1.65. The stock’s 50 day moving average is $81.37 and its two-hundred day moving average is $77.38. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 firm posted $2.34 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.01 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

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

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.