Connectus Wealth LLC Has $1.21 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Connectus Wealth LLC reduced its position in ONEOK, Inc. (NYSE:OKEFree Report) by 40.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,193 shares of the utilities provider’s stock after selling 11,586 shares during the period. Connectus Wealth LLC’s holdings in ONEOK were worth $1,207,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares during the last quarter. Deutsche Bank AG raised its holdings in ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after acquiring an additional 3,636,660 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after acquiring an additional 2,153,295 shares during the last quarter. Morgan Stanley boosted its holdings in shares of ONEOK by 20.3% during the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after acquiring an additional 1,458,392 shares during the period. Finally, Invesco Ltd. grew its position in shares of ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after purchasing an additional 3,229,046 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Mizuho boosted their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wells Fargo & Company raised their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. raised their price target on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.25.

Read Our Latest Research Report on ONEOK

ONEOK Stock Up 1.8 %

Shares of OKE opened at $80.04 on Tuesday. ONEOK, Inc. has a 1 year low of $57.37 and a 1 year high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The stock has a 50 day simple moving average of $79.84 and a two-hundred day simple moving average of $74.68. The firm has a market cap of $46.72 billion, a P/E ratio of 18.61, a P/E/G ratio of 4.23 and a beta of 1.65.

ONEOK (NYSE:OKEGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business posted $2.34 EPS. On average, analysts forecast that ONEOK, Inc. will post 4.92 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.95%. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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