ONEOK, Inc. (NYSE:OKE) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 50.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,549 shares of the utilities provider’s stock after purchasing an additional 1,186 shares during the quarter. Ritholtz Wealth Management’s holdings in ONEOK were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. LaFleur & Godfrey LLC acquired a new stake in shares of ONEOK in the 4th quarter worth $931,000. Brighton Jones LLC raised its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Principal Securities Inc. raised its stake in ONEOK by 16.6% in the 4th quarter. Principal Securities Inc. now owns 3,954 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 563 shares during the last quarter. Empower Advisory Group LLC raised its stake in ONEOK by 11.7% in the 4th quarter. Empower Advisory Group LLC now owns 3,932 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 413 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in ONEOK by 102.3% in the 4th quarter. Venturi Wealth Management LLC now owns 6,489 shares of the utilities provider’s stock worth $652,000 after acquiring an additional 3,281 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $81.07 on Friday. 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, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The business has a 50-day moving average price of $83.00 and a 200 day moving average price of $93.42. The firm has a market cap of $51.04 billion, a PE ratio of 15.83, a P/E/G ratio of 1.59 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKE. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Scotiabank reduced their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Barclays reduced their price objective 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. Finally, Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.69.

About ONEOK

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.