Silvercrest Asset Management Group LLC Has $2.58 Million Position in ONEOK, Inc. (NYSE:OKE)

Silvercrest Asset Management Group LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 32,177 shares of the utilities provider’s stock after selling 2,478 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in ONEOK were worth $2,580,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in ONEOK in the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the first quarter worth about $26,000. HHM Wealth Advisors LLC bought a new position in ONEOK during the fourth quarter valued at about $32,000. American National Bank acquired a new position in ONEOK in the 1st quarter valued at approximately $32,000. Finally, Security National Bank bought a new stake in shares of ONEOK in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OKE. Morgan Stanley boosted 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. Mizuho increased their price objective 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 raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $84.83.

ONEOK Stock Up 0.7 %

NYSE OKE opened at $82.79 on Wednesday. The stock’s 50 day simple moving average is $81.37 and its 200 day simple moving average is $77.87. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.20. The firm has a market cap of $48.32 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 4.34 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last announced its 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. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK 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.