ONEOK, Inc. (NYSE:OKE) Position Reduced by Selective Wealth Management Inc.

Selective Wealth Management Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 19.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,517 shares of the utilities provider’s stock after selling 2,725 shares during the period. Selective Wealth Management Inc.’s holdings in ONEOK were worth $1,143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ONEOK during the fourth quarter worth approximately $539,554,000. Wellington Management Group LLP lifted its position in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after acquiring an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock worth $280,194,000 after acquiring an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the 4th quarter worth $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK during the fourth quarter worth $177,045,000. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays cut their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Six equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.69.

ONEOK Price Performance

Shares of NYSE:OKE opened at $81.70 on Monday. The business has a fifty day simple moving average of $83.49 and a 200 day simple moving average of $95.10. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The firm has a market cap of $51.03 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last issued 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.04%. ONEOK’s dividend payout ratio (DPR) is 80.47%.

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.