ONEOK, Inc. (NYSE:OKE) Stake Boosted by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,104 shares of the utilities provider’s stock after buying an additional 450 shares during the period. ONEOK comprises about 3.1% of Cadent Capital Advisors LLC’s holdings, making the stock its 10th biggest position. Cadent Capital Advisors LLC’s holdings in ONEOK were worth $8,642,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in ONEOK during the fourth quarter worth about $32,000. Vermillion Wealth Management Inc. purchased a new stake in shares of ONEOK during the 4th quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the 4th quarter worth approximately $39,000. Canton Hathaway LLC purchased a new position in ONEOK in the 4th quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its holdings in ONEOK by 152.1% during the 1st 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Barclays reduced their target price on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Scotiabank lowered their price target 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 reduced their price objective on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. 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 company. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Trading Down 1.0%

NYSE OKE opened at $81.35 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock’s 50-day simple moving average is $83.07 and its two-hundred day simple moving average is $93.71. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the company posted $1.09 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared 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 5.06%. The ex-dividend date was Monday, May 5th. ONEOK’s dividend payout ratio is presently 80.47%.

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.