Trademark Financial Management LLC Acquires Shares of 2,944 ONEOK, Inc. (NYSE:OKE)

Trademark Financial Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,944 shares of the utilities provider’s stock, valued at approximately $240,000.

A number of other large investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in ONEOK by 7.7% in the 4th quarter. Van ECK Associates Corp now owns 160,034 shares of the utilities provider’s stock worth $11,237,000 after acquiring an additional 11,496 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of ONEOK by 26.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares during the period. Penobscot Investment Management Company Inc. grew its position in ONEOK by 23.3% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 19,849 shares of the utilities provider’s stock valued at $1,394,000 after purchasing an additional 3,749 shares in the last quarter. Mission Wealth Management LP increased its stake in ONEOK by 9.9% in the 4th quarter. Mission Wealth Management LP now owns 9,960 shares of the utilities provider’s stock valued at $699,000 after buying an additional 901 shares during the period. Finally, Brighton Jones LLC lifted its position in ONEOK by 4.2% in the 4th quarter. Brighton Jones LLC now owns 10,784 shares of the utilities provider’s stock worth $757,000 after buying an additional 434 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OKE. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday. Mizuho lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada lifted their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.46.

ONEOK Price Performance

NYSE OKE traded up $2.21 on Friday, hitting $92.36. 4,921,721 shares of the company were exchanged, compared to its average volume of 2,757,578. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $92.61. The firm has a 50 day moving average of $84.16 and a two-hundred day moving average of $80.40. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a market cap of $53.91 billion, a P/E ratio of 21.48, a P/E/G ratio of 4.42 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.29%. ONEOK’s dividend payout ratio is presently 92.09%.

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.