PDS Planning Inc Increases Holdings in ONEOK, Inc. (NYSE:OKE)

PDS Planning Inc increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,640 shares of the utilities provider’s stock after purchasing an additional 309 shares during the quarter. PDS Planning Inc’s holdings in ONEOK were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in shares of ONEOK during the fourth quarter worth $32,000. First Pacific Financial bought a new stake in ONEOK in the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK in the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the 4th quarter valued at about $39,000. Finally, Rakuten Securities Inc. grew its position in shares of 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 purchasing an additional 254 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.1%

Shares of NYSE:OKE opened at $81.27 on Friday. The business’s 50 day moving average is $82.57 and its 200 day moving average is $92.30. The stock has a market cap of $51.16 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for 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 company posted $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OKE. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Scotiabank lowered their target price on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Citigroup reduced their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, Stifel Nicolaus reduced their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $104.67.

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.