First Foundation Advisors Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

First Foundation Advisors trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,538 shares of the utilities provider’s stock after selling 196 shares during the quarter. First Foundation Advisors’ holdings in ONEOK were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of ONEOK by 21.8% in the 3rd quarter. American Century Companies Inc. now owns 342,952 shares of the utilities provider’s stock valued at $21,753,000 after buying an additional 61,362 shares during the period. Dfpg Investments LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $203,000. Dynamic Advisor Solutions LLC boosted its stake in shares of ONEOK by 5.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 19,124 shares of the utilities provider’s stock valued at $1,369,000 after buying an additional 959 shares during the period. BKM Wealth Management LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $107,000. Finally, Naples Global Advisors LLC boosted its stake in shares of ONEOK by 10.4% in the 4th quarter. Naples Global Advisors LLC now owns 4,062 shares of the utilities provider’s stock valued at $285,000 after buying an additional 384 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley boosted their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Wells Fargo & Company boosted their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus boosted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.50.

ONEOK Stock Performance

OKE traded up $0.03 during trading on Friday, hitting $83.47. 3,093,305 shares of the stock were exchanged, compared to its average volume of 2,208,576. The firm has a market capitalization of $48.72 billion, a P/E ratio of 19.41, a PEG ratio of 4.42 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $86.20. The stock has a fifty day moving average price of $81.30 and a two-hundred day moving average price of $77.25. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.01 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is currently 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.