ONEOK, Inc. (NYSE:OKE) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,385 shares of the utilities provider’s stock after selling 268 shares during the period. Balboa Wealth Partners’ holdings in ONEOK were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter valued at $32,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK in the fourth quarter worth about $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the fourth quarter worth about $40,000. Finally, Rakuten Securities Inc. raised its position in shares of ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 254 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on OKE shares. Citigroup decreased their price objective on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Scotiabank cut their target price on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Barclays cut their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company cut their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Stock Performance

ONEOK stock opened at $79.96 on Tuesday. The firm has a 50 day simple moving average of $82.93 and a 200-day simple moving average of $92.79. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market cap of $50.34 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the business posted $1.09 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.15%. ONEOK’s dividend payout ratio is currently 80.47%.

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.