Apollon Wealth Management LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Apollon Wealth Management LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,314 shares of the utilities provider’s stock after acquiring an additional 327 shares during the quarter. Apollon Wealth Management LLC’s holdings in ONEOK were worth $4,099,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in ONEOK by 12.2% in the first quarter. Signaturefd LLC now owns 8,658 shares of the utilities provider’s stock valued at $859,000 after purchasing an additional 942 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of ONEOK by 2,020.6% in the 1st quarter. Edgestream Partners L.P. now owns 146,259 shares of the utilities provider’s stock worth $14,512,000 after purchasing an additional 139,362 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of ONEOK by 1.9% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,562 shares of the utilities provider’s stock worth $849,000 after purchasing an additional 158 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at about $1,302,000. Finally, Bleakley Financial Group LLC raised its holdings in shares of ONEOK by 1.7% during the 1st quarter. Bleakley Financial Group LLC now owns 12,598 shares of the utilities provider’s stock valued at $1,250,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Citigroup reduced their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective on the stock. Finally, Scotiabank cut their target price on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.14.

ONEOK Stock Performance

Shares of OKE stock opened at $81.61 on Tuesday. The stock’s fifty day simple moving average is $81.97 and its 200-day simple moving average is $90.62. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a market capitalization of $51.38 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.55 and a beta of 0.93.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the firm earned $1.09 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.05%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

About ONEOK

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.