Royal Fund Management LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Royal Fund Management LLC lifted its position in ONEOK, Inc. (NYSE:OKEFree Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,621 shares of the utilities provider’s stock after purchasing an additional 4,821 shares during the quarter. Royal Fund Management LLC’s holdings in ONEOK were worth $7,103,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OKE. Rise Advisors LLC bought a new position in ONEOK in the first quarter valued at $25,000. American National Bank bought a new position in ONEOK in the first quarter valued at $32,000. Beacon Capital Management LLC increased its stake in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in ONEOK in the fourth quarter valued at $32,000. Finally, Security National Bank bought a new position in ONEOK in the fourth quarter valued at $35,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. UBS Group increased their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Stifel Nicolaus increased their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.25.

View Our Latest Report on OKE

ONEOK Stock Down 1.4 %

Shares of OKE traded down $1.17 on Friday, hitting $79.88. 6,799,838 shares of the stock traded hands, compared to its average volume of 2,392,754. The company has a market capitalization of $46.62 billion, a PE ratio of 18.58, a P/E/G ratio of 4.35 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The business has a 50 day simple moving average of $79.86 and a 200 day simple moving average of $75.39. ONEOK, Inc. has a one year low of $57.37 and a one year high of $83.31.

ONEOK (NYSE:OKEGet Free Report) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

About ONEOK

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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