ORG Wealth Partners LLC Purchases 5,265 Shares of ONEOK, Inc. (NYSE:OKE)

ORG Wealth Partners LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 269.6% during the first quarter, Holdings Channel.com reports. The firm owned 7,218 shares of the utilities provider’s stock after purchasing an additional 5,265 shares during the quarter. ORG Wealth Partners LLC’s holdings in ONEOK were worth $718,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Greenline Partners LLC bought a new position in ONEOK in the 4th quarter worth $32,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK during the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in ONEOK during the fourth quarter valued at about $39,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter valued at about $40,000. Finally, Rakuten Securities Inc. raised its holdings in ONEOK by 152.1% during the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 254 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 0.4%

OKE opened at $81.07 on Thursday. The firm has a market cap of $51.04 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.60 and a beta of 0.94. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average of $83.00 and a 200 day moving average of $93.62.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm 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 15.58% and a net margin of 12.15%. During the same period in the previous year, the business earned $1.09 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. 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 payout ratio is currently 80.47%.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

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.