Essex Financial Services Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,928 shares of the utilities provider’s stock after selling 282 shares during the quarter. Essex Financial Services Inc.’s holdings in ONEOK were worth $250,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OKE. Retirement Group LLC bought a new position in ONEOK in the first quarter worth $25,000. Klaas Financial Asset Advisors LLC bought a new position in ONEOK in the fourth quarter worth $28,000. City Holding Co. bought a new position in ONEOK in the first quarter worth $30,000. Denali Advisors LLC bought a new position in shares of ONEOK during the first quarter valued at $30,000. Finally, IMA Wealth Inc. lifted its holdings in shares of ONEOK by 80.8% during the fourth quarter. IMA Wealth Inc. now owns 839 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 375 shares during the period. 63.97% of the stock is owned by hedge funds and other institutional investors.
NYSE OKE opened at $54.78 on Friday. The business’s 50 day simple moving average is $52.64. ONEOK, Inc. has a one year low of $23.28 and a one year high of $56.18. The firm has a market capitalization of $24.41 billion, a PE ratio of 21.32, a P/E/G ratio of 2.70 and a beta of 2.01. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 2.24.
The company also recently announced a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Monday, April 26th were given a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date was Friday, April 23rd. ONEOK’s dividend payout ratio is currently 263.38%.
A number of research analysts have issued reports on the company. Citigroup lifted their price objective on ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday. Raymond James lifted their price objective on ONEOK from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Morgan Stanley raised ONEOK from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective for the company in a report on Wednesday, May 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on ONEOK from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, May 13th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.59.
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.
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.