Cherry Tree Wealth Management LLC Sells 198 Shares of ONEOK, Inc. (NYSE:OKE)

Cherry Tree Wealth Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 19.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 829 shares of the utilities provider’s stock after selling 198 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in ONEOK were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OKE. Mindset Wealth Management LLC boosted its stake in ONEOK by 0.7% during the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider’s stock valued at $1,618,000 after purchasing an additional 106 shares during the last quarter. Marcum Wealth LLC raised its stake in shares of ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock worth $1,017,000 after purchasing an additional 108 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of ONEOK by 1.9% during the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider’s stock valued at $590,000 after purchasing an additional 112 shares in the last quarter. West Paces Advisors Inc. boosted its position in shares of ONEOK by 4.7% during the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider’s stock valued at $254,000 after buying an additional 114 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC increased its holdings in ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider’s stock worth $1,560,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $81.07 on Friday. The business’s fifty day moving average is $83.00 and its 200 day moving average is $93.42. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The company has a market capitalization of $51.04 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the previous year, the firm earned $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OKE shares. Scotiabank lowered their target price on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Barclays lowered their price objective on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.69.

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.