Disciplined Investments LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Disciplined Investments LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,058 shares of the utilities provider’s stock after selling 1,921 shares during the quarter. Disciplined Investments LLC’s holdings in ONEOK were worth $1,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in ONEOK during the first quarter worth approximately $25,000. Beacon Capital Management LLC increased its stake in ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in ONEOK during the fourth quarter worth $32,000. American National Bank acquired a new stake in ONEOK during the first quarter worth $32,000. Finally, Security National Bank acquired a new stake in ONEOK during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OKE shares. Wells Fargo & Company lifted their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Citigroup lifted their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. 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 given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average target price of $84.50.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.49 during trading hours on Wednesday, reaching $80.53. The stock had a trading volume of 1,988,558 shares, compared to its average volume of 2,853,302. The firm has a market cap of $47.00 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 4.34 and a beta of 1.65. 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 fifty-two week low of $58.51 and a fifty-two week high of $83.31. The firm has a 50-day moving average of $80.00 and a 200-day moving average of $75.58.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the firm earned $2.34 EPS. Equities research analysts predict that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 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.