EP Wealth Advisors LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

EP Wealth Advisors LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,325 shares of the utilities provider’s stock after acquiring an additional 3,324 shares during the quarter. EP Wealth Advisors LLC’s holdings in ONEOK were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OKE. Sheets Smith Wealth Management grew its position in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 139 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in ONEOK by 5.3% during the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 142 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in ONEOK by 4.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 144 shares during the last quarter. Presima Securities ULC grew its stake in ONEOK by 1.7% in the 4th 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 during the period. Finally, FourThought Financial Partners LLC increased its position in shares of ONEOK by 3.8% during the 4th 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 during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKE. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley upped their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Wells Fargo & Company raised their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.83.

ONEOK Price Performance

OKE stock traded up $0.62 during midday trading on Friday, reaching $82.02. The company had a trading volume of 1,826,761 shares, compared to its average volume of 2,137,539. The firm has a 50-day moving average price of $81.39 and a 200-day moving average price of $77.60. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The company has a market capitalization of $47.87 billion, a P/E ratio of 19.07, a P/E/G ratio of 4.31 and a beta of 1.65. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20.

ONEOK (NYSE:OKE) last released 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. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business 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 firm earned $2.34 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.01 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend 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.