ORG Wealth Partners LLC Buys 5,265 Shares of ONEOK, Inc. (NYSE:OKE)

ORG Wealth Partners LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 269.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,218 shares of the utilities provider’s stock after acquiring an additional 5,265 shares during the period. ORG Wealth Partners LLC’s holdings in ONEOK were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $32,000. Vermillion Wealth Management Inc. bought a new position in ONEOK during the 4th quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK during the 4th quarter valued at approximately $39,000. Canton Hathaway LLC bought a new position in ONEOK during the 4th quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its position in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Scotiabank decreased their target price on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Stock Performance

Shares of OKE opened at $81.07 on Thursday. The business’s fifty day simple moving average is $83.00 and its two-hundred day simple moving average is $93.62. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market cap of $51.04 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.60 and a beta of 0.94.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. ONEOK’s payout ratio is 80.47%.

About ONEOK

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.