SFE Investment Counsel cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,578 shares of the utilities provider’s stock after selling 9,553 shares during the period. ONEOK comprises about 2.3% of SFE Investment Counsel’s portfolio, making the stock its 11th biggest position. SFE Investment Counsel’s holdings in ONEOK were worth $5,139,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Deutsche Bank AG increased its stake in ONEOK by 1.9% during the fourth quarter. Deutsche Bank AG now owns 3,440,599 shares of the utilities provider’s stock worth $185,610,000 after purchasing an additional 64,227 shares during the period. CWM Advisors LLC increased its stake in ONEOK by 5.5% during the fourth quarter. CWM Advisors LLC now owns 5,648 shares of the utilities provider’s stock worth $305,000 after purchasing an additional 295 shares during the period. Paradigm Financial Partners LLC purchased a new stake in ONEOK during the fourth quarter worth about $1,364,000. Jones Financial Companies Lllp purchased a new stake in ONEOK during the first quarter worth about $219,000. Finally, United Services Automobile Association increased its stake in ONEOK by 11.9% during the fourth quarter. United Services Automobile Association now owns 199,944 shares of the utilities provider’s stock worth $10,787,000 after purchasing an additional 21,319 shares during the period. Institutional investors own 74.38% of the company’s stock.
Shares of ONEOK stock traded down $0.43 on Monday, reaching $67.74. 19,074 shares of the company were exchanged, compared to its average volume of 1,870,910. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.79. The company has a market cap of $28.10 billion, a PE ratio of 24.38, a P/E/G ratio of 1.96 and a beta of 1.20. ONEOK, Inc. has a 1-year low of $50.26 and a 1-year high of $71.99.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.08. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.70 billion. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. During the same period in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 29th were issued a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 5.11%. This is an increase from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, April 26th. ONEOK’s dividend payout ratio is 124.46%.
A number of analysts have issued reports on OKE shares. Evercore ISI started coverage on shares of ONEOK in a research note on Tuesday, February 5th. They set a $68.00 price target on the stock. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, May 7th. Citigroup boosted their price target on shares of ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Mizuho set a $73.00 price objective on ONEOK and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Finally, Jefferies Financial Group downgraded ONEOK from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $72.00 to $74.00 in a research report on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.73.
In related news, Director Eduardo A. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at $1,037,028. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.
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ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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