Golden State Equity Partners Lowers Position in ONEOK, Inc. (NYSE:OKE)

Golden State Equity Partners lessened its position in ONEOK, Inc. (NYSE:OKE) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,809 shares of the utilities provider’s stock after selling 153 shares during the quarter. Golden State Equity Partners’ holdings in ONEOK were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after buying an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Geode Capital Management LLC raised its stake in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after buying an additional 357,015 shares during the last quarter. Northern Trust Corp raised its stake in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after buying an additional 864,392 shares during the last quarter. Finally, Norges Bank purchased a new position in ONEOK during the fourth quarter valued at $539,554,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $80.21 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The firm has a market capitalization of $50.50 billion, a P/E ratio of 15.67, a PEG ratio of 1.58 and a beta of 0.94. The business has a fifty day moving average of $82.77 and a 200 day moving average of $92.62.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is currently 80.47%.

Analyst Ratings Changes

A number of brokerages have issued reports on OKE. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Finally, Scotiabank decreased their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

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.