Penbrook Management LLC Sells 1,000 Shares of ONEOK, Inc. (NYSE:OKE)

Penbrook Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,035 shares of the utilities provider’s stock after selling 1,000 shares during the period. Penbrook Management LLC’s holdings in ONEOK were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of ONEOK during the first quarter valued at $25,000. American National Bank purchased a new stake in ONEOK during the first quarter worth about $32,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $32,000. Finally, Security National Bank acquired a new stake in ONEOK during the 4th quarter worth $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.61 during trading on Tuesday, hitting $82.33. 1,836,055 shares of the company were exchanged, compared to its average volume of 2,837,168. The business’s 50 day moving average is $80.19 and its 200-day moving average is $75.97. ONEOK, Inc. has a 1-year low of $60.52 and a 1-year high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $48.05 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company posted $2.34 EPS. Equities analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.81%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Mizuho upped their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Barclays raised their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. lifted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.50.

ONEOK Company Profile

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.