ONEOK, Inc. (NYSE:OKE) Shares Sold by Brookstone Capital Management

Brookstone Capital Management lowered its position in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,924 shares of the utilities provider’s stock after selling 1,004 shares during the quarter. Brookstone Capital Management’s holdings in ONEOK were worth $1,928,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in ONEOK during the first quarter worth $30,000. Covestor Ltd bought a new position in shares of ONEOK in the 4th quarter worth about $31,000. DeDora Capital Inc. acquired a new position in shares of ONEOK in the 1st quarter valued at about $32,000. Bank of New Hampshire bought a new stake in shares of ONEOK during the 1st quarter valued at about $35,000. Finally, Motco acquired a new stake in ONEOK during the first quarter worth about $35,000. Institutional investors own 66.82% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $59.70 on Wednesday. ONEOK, Inc. has a 1 year low of $52.19 and a 1 year high of $75.07. The firm has a market cap of $26.68 billion, a P/E ratio of 16.96, a PEG ratio of 2.18 and a beta of 1.68. The stock has a fifty day moving average price of $60.90 and a two-hundred day moving average price of $63.46. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.62 and a current ratio of 0.83.

ONEOK (NYSE:OKEGet Rating) last announced its earnings results on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). ONEOK had a net margin of 7.37% and a return on equity of 26.32%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the business earned $0.77 EPS. The company’s quarterly revenue was up 76.9% compared to the same quarter last year. Research analysts forecast that ONEOK, Inc. will post 3.71 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend was Friday, July 29th. ONEOK’s dividend payout ratio is presently 106.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKE. Mizuho upped their target price on ONEOK from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. US Capital Advisors reaffirmed an “overweight” rating on shares of ONEOK in a research report on Wednesday, June 1st. Barclays lowered their price target on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Finally, Morgan Stanley cut their price objective on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $68.42.

ONEOK Company Profile

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ONEOK, Inc, together with its subsidiaries, engages in 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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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