16,607 Shares in ONEOK, Inc. $OKE Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the first quarter, HoldingsChannel reports. The institutional investor purchased 16,607 shares of the utilities provider’s stock, valued at approximately $1,501,000.

Other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT grew its stake in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK in the 4th quarter valued at $29,000. SRH Advisors LLC boosted its stake in ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC bought a new stake in ONEOK in the first quarter valued at $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 1.4%

Shares of NYSE OKE opened at $90.03 on Thursday. The firm has a market capitalization of $56.73 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.80 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm’s 50-day moving average is $89.23 and its 200-day moving average is $86.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm earned $1.04 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.65 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada boosted their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Barclays dropped their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group lifted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.81.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.