Transform Wealth LLC Sells 17,598 Shares of ONEOK, Inc. (NYSE:OKE)

Transform Wealth LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,898 shares of the utilities provider’s stock after selling 17,598 shares during the period. Transform Wealth LLC’s holdings in ONEOK were worth $8,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after buying an additional 144 shares in the last quarter. Presima Securities ULC lifted its holdings in ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 150 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 161 shares in the last quarter. Cooper Financial Group lifted its holdings in ONEOK by 1.8% during the first quarter. Cooper Financial Group now owns 10,257 shares of the utilities provider’s stock valued at $822,000 after purchasing an additional 182 shares in the last quarter. Finally, Monarch Capital Management Inc. lifted its holdings in ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.83 during trading on Friday, reaching $81.58. The company’s stock had a trading volume of 650,487 shares, compared to its average volume of 2,825,260. The company has a 50-day moving average price of $80.05 and a two-hundred day moving average price of $75.61. The firm has a market cap of $47.61 billion, a PE ratio of 18.81, a P/E/G ratio of 4.32 and a beta of 1.65. ONEOK, Inc. has a fifty-two week low of $60.52 and a fifty-two week high of $83.31. 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 (NYSE:OKE) last announced its 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. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the company posted $2.34 EPS. On average, analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.85%. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Barclays increased their target price on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Truist Financial raised their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Stifel Nicolaus lifted their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Citigroup raised their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.50.

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.