Tradewinds Capital Management LLC Raises Position in ONEOK, Inc. (NYSE:OKE)

Tradewinds Capital Management LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 268.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,330 shares of the utilities provider’s stock after buying an additional 6,068 shares during the quarter. Tradewinds Capital Management LLC’s holdings in ONEOK were worth $668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. FMR LLC raised its holdings in shares of ONEOK by 7.9% in the third quarter. FMR LLC now owns 549,701 shares of the utilities provider’s stock worth $34,867,000 after buying an additional 40,408 shares during the period. Ancora Advisors LLC increased its holdings in ONEOK by 1,792.6% during the 3rd quarter. Ancora Advisors LLC now owns 7,192 shares of the utilities provider’s stock worth $456,000 after purchasing an additional 6,812 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in ONEOK by 20.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 279,720 shares of the utilities provider’s stock worth $17,743,000 after purchasing an additional 48,300 shares during the period. United Services Automobile Association purchased a new position in ONEOK during the 3rd quarter worth $752,000. Finally, Lazard Asset Management LLC increased its holdings in ONEOK by 17.1% during the 3rd quarter. Lazard Asset Management LLC now owns 11,659 shares of the utilities provider’s stock worth $739,000 after purchasing an additional 1,704 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on OKE shares. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Barclays raised their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Finally, Truist Financial raised their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

OKE stock traded up $0.56 during trading on Wednesday, hitting $82.89. The stock had a trading volume of 825,848 shares, compared to its average volume of 2,821,330. The stock has a market capitalization of $48.38 billion, a P/E ratio of 19.31, a PEG ratio of 4.37 and a beta of 1.65. The company’s 50-day moving average price is $80.23 and its two-hundred day moving average price is $76.07. ONEOK, Inc. has a twelve month low of $60.52 and a twelve month high of $83.31. 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 issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share 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 business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the firm posted $2.34 EPS. As a group, research analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 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.