Alpha Cubed Investments LLC cut its stake in ONEOK (NYSE:OKE) by 54.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,086 shares of the utilities provider’s stock after selling 4,852 shares during the quarter. Alpha Cubed Investments LLC’s holdings in ONEOK were worth $233,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in OKE. Delpha Capital Management LLC purchased a new position in ONEOK in the fourth quarter valued at about $134,000. Tower Research Capital LLC TRC increased its position in shares of ONEOK by 562.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 2,322 shares during the last quarter. Fieldpoint Private Securities LLC increased its position in shares of ONEOK by 73.0% during the first quarter. Fieldpoint Private Securities LLC now owns 2,941 shares of the utilities provider’s stock worth $167,000 after acquiring an additional 1,241 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of ONEOK during the first quarter worth about $200,000. Finally, Wealthsource Partners LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $203,000. 69.74% of the stock is currently owned by institutional investors.
ONEOK opened at $66.52 on Friday, MarketBeat reports. The stock has a market capitalization of $27.41 billion, a P/E ratio of 37.80, a PEG ratio of 2.72 and a beta of 1.20. ONEOK has a one year low of $66.16 and a one year high of $66.72. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.63 and a quick ratio of 0.49.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, May 1st. The utilities provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.49 billion. ONEOK had a return on equity of 11.95% and a net margin of 4.51%. During the same period last year, the firm earned $0.41 earnings per share. analysts predict that ONEOK will post 2.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a $0.795 dividend. This represents a $3.18 dividend on an annualized basis and a yield of 4.78%. This is an increase from ONEOK’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, April 27th. ONEOK’s dividend payout ratio (DPR) is 180.68%.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of ONEOK stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $56.70, for a total value of $124,740.00. Following the completion of the transaction, the vice president now directly owns 31,244 shares in the company, valued at $1,771,534.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eduardo A. Rodriguez sold 2,100 shares of ONEOK stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $56.94, for a total value of $119,574.00. Following the completion of the transaction, the director now owns 16,025 shares of the company’s stock, valued at $912,463.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on OKE. ValuEngine raised ONEOK from a “hold” rating to a “buy” rating in a research report on Thursday, May 3rd. Stifel Nicolaus lifted their target price on ONEOK from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday, May 3rd. Mizuho reaffirmed a “hold” rating and set a $61.00 target price on shares of ONEOK in a research report on Tuesday, January 23rd. Seaport Global Securities began coverage on ONEOK in a research report on Tuesday, April 17th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Deutsche Bank began coverage on ONEOK in a research report on Thursday, April 19th. They set a “hold” rating and a $62.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. ONEOK currently has a consensus rating of “Hold” and a consensus price target of $61.43.
ONEOK Company Profile
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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