Eagle Bay Advisors LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Eagle Bay Advisors LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 3,750.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 924 shares of the utilities provider’s stock after buying an additional 900 shares during the period. Eagle Bay Advisors LLC’s holdings in ONEOK were worth $74,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. Rise Advisors LLC purchased a new stake in shares of ONEOK in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK in the 1st quarter worth approximately $26,000. HHM Wealth Advisors LLC bought a new position in ONEOK in the 4th quarter valued at approximately $32,000. American National Bank bought a new position in ONEOK in the 1st quarter valued at approximately $32,000. Finally, Security National Bank bought a new position in ONEOK in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Morgan Stanley upped their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.50.

ONEOK Trading Down 1.9 %

Shares of NYSE:OKE traded down $1.62 during trading on Thursday, reaching $83.75. The company’s stock had a trading volume of 2,415,565 shares, compared to its average volume of 2,748,736. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The firm’s 50 day simple moving average is $81.16 and its two-hundred day simple moving average is $77.07. The stock has a market capitalization of $48.88 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 4.56 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced 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 firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the firm earned $2.34 EPS. On average, research analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.73%. ONEOK’s dividend payout ratio is presently 92.09%.

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.