Cyndeo Wealth Partners LLC Has $8.49 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Cyndeo Wealth Partners LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,536 shares of the utilities provider’s stock after selling 908 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in ONEOK were worth $8,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKE. Norges Bank acquired a new stake in ONEOK in the 4th quarter valued at $539,554,000. Wellington Management Group LLP grew its position in ONEOK by 433.4% in 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 purchasing an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD grew its position in ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new stake in ONEOK in the 4th quarter valued at $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK in the 4th quarter valued at $177,045,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.3%

OKE stock opened at $83.74 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s 50 day moving average is $83.07 and its 200 day moving average is $94.02. The stock has a market cap of $52.72 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07.

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 the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

Wall Street Analyst Weigh In

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

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.