Davis R M Inc. Has $450,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Davis R M Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,612 shares of the utilities provider’s stock after selling 444 shares during the period. Davis R M Inc.’s holdings in ONEOK were worth $450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. Rise Advisors LLC acquired a new position in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK during the first quarter worth approximately $26,000. HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $32,000. American National Bank acquired a new stake in shares of ONEOK during the first quarter worth approximately $32,000. Finally, Security National Bank acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $35,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley raised their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, Stifel Nicolaus raised their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.50.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $0.72 during trading on Tuesday, reaching $83.71. The stock had a trading volume of 1,226,409 shares, compared to its average volume of 2,759,414. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $86.20. The firm has a market capitalization of $48.86 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.42 and a beta of 1.65. 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 stock has a fifty day simple moving average of $81.37 and a two-hundred day simple moving average of $77.38.

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 net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the firm posted $2.34 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.01 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

ONEOK 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.