2,959 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Lakeridge Wealth Management LLC

Lakeridge Wealth Management LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,959 shares of the utilities provider’s stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $32,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $39,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.3%

NYSE OKE opened at $83.74 on Friday. The firm has a market capitalization of $52.72 billion, a P/E ratio of 17.52, a PEG ratio of 3.77 and a beta of 0.94. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business has a fifty day simple moving average of $83.07 and a 200 day simple moving average of $94.27. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 4.92%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKE. Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Barclays reduced their target price 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 reduced their target price on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday, June 5th. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, Citigroup reduced their target price 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. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

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.