Beacon Capital Management LLC Buys 232 Shares of ONEOK, Inc. (NYSE:OKE)

Beacon Capital Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 56.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 640 shares of the utilities provider’s stock after buying an additional 232 shares during the quarter. Beacon Capital Management LLC’s holdings in ONEOK were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OKE. Rise Advisors LLC bought a new position in ONEOK in the 1st quarter valued at $25,000. LifeSteps Financial Inc. bought a new position in ONEOK in the 1st quarter valued at $26,000. American National Bank bought a new position in ONEOK in the 1st quarter valued at $32,000. HHM Wealth Advisors LLC bought a new position in ONEOK in the 4th quarter valued at $32,000. Finally, Manchester Capital Management LLC raised its position in ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE traded down $1.29 on Thursday, hitting $82.04. The company’s stock had a trading volume of 1,512,807 shares, compared to its average volume of 2,743,078. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average of $81.41 and a two-hundred day moving average of $77.90. The firm has a market capitalization of $47.88 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.20.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus lifted their price objective 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, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.00.

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.