RDA Financial Network Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

RDA Financial Network boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 7.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,745 shares of the utilities provider’s stock after buying an additional 394 shares during the period. RDA Financial Network’s holdings in ONEOK were worth $570,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after buying an additional 136,071 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of ONEOK during the 4th quarter valued at about $19,909,000. Americana Partners LLC boosted its holdings in shares of ONEOK by 258.6% during the 4th quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider’s stock valued at $27,292,000 after purchasing an additional 196,038 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of ONEOK during the 4th quarter valued at about $34,360,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of ONEOK by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock valued at $1,546,000 after purchasing an additional 4,538 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $81.70 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market capitalization of $51.03 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The company’s 50-day moving average is $83.49 and its 200 day moving average is $95.25.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the company earned $1.09 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is currently 80.47%.

Wall Street Analyst Weigh In

Several research analysts have commented on OKE shares. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Scotiabank dropped their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday. Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.