Adell Harriman & Carpenter Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 150.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,433 shares of the utilities provider’s stock after purchasing an additional 21,303 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in ONEOK were worth $2,475,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of OKE. C J Advisory Inc bought a new stake in ONEOK in the first quarter worth approximately $26,000. Reilly Financial Advisors LLC increased its holdings in ONEOK by 142.4% in the fourth quarter. Reilly Financial Advisors LLC now owns 497 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 292 shares in the last quarter. PRW Wealth Management LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $27,000. Pinnacle Financial Partners Inc. bought a new stake in shares of ONEOK during the first quarter valued at approximately $27,000. Finally, Buffington Mohr McNeal bought a new stake in shares of ONEOK during the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.38% of the company’s stock.
Several research firms have recently commented on OKE. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, May 7th. Citigroup boosted their price objective on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Seaport Global Securities downgraded ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price objective for the company. in a report on Monday, April 22nd. UBS Group boosted their price objective on ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.73.
Shares of NYSE:OKE opened at $67.25 on Thursday. The company has a market cap of $27.44 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.79. ONEOK, Inc. has a 12-month low of $50.26 and a 12-month high of $71.99.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.08. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.70 billion. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 3.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 29th were given a dividend of $0.865 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.46 annualized dividend and a dividend yield of 5.14%. ONEOK’s payout ratio is presently 124.46%.
In related news, Director Eduardo A. Rodriguez sold 1,500 shares of ONEOK stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the director now owns 15,536 shares of the company’s stock, valued at $1,037,028. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
Further Reading: Percentage Gainers
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