ONEOK, Inc. (NYSE:OKE) is Ibex Wealth Advisors’ 6th Largest Position

Ibex Wealth Advisors cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,915 shares of the utilities provider’s stock after selling 3,512 shares during the period. ONEOK makes up 2.3% of Ibex Wealth Advisors’ portfolio, making the stock its 6th largest holding. Ibex Wealth Advisors’ holdings in ONEOK were worth $17,454,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC boosted its stake in shares of ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 1,180 shares during the period. Cinctive Capital Management LP purchased a new position in shares of ONEOK during the 4th quarter worth about $19,909,000. Americana Partners LLC boosted its position in ONEOK by 258.6% in the 4th quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider’s stock valued at $27,292,000 after buying an additional 196,038 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new stake in ONEOK in the 4th quarter valued at about $34,360,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in ONEOK by 41.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock valued at $1,546,000 after buying an additional 4,538 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.7%

NYSE OKE opened at $81.13 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market cap of $51.07 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The company has a 50 day moving average price of $83.11 and a 200 day moving average price of $94.85.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 dividend on an annualized basis and a yield of 5.08%. ONEOK’s payout ratio is 80.47%.

Analyst Ratings Changes

Several research firms have recently commented on OKE. Stifel Nicolaus reduced their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Barclays reduced their price target on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Scotiabank reduced their price target on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday, June 5th. Finally, Citigroup reduced their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.