Zeke Capital Advisors LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Zeke Capital Advisors LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,217 shares of the utilities provider’s stock after selling 1,336 shares during the period. Zeke Capital Advisors LLC’s holdings in ONEOK were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC increased its stake in shares of ONEOK by 36.8% during the first quarter. YorkBridge Wealth Partners LLC now owns 569 shares of the utilities provider’s stock valued at $40,000 after buying an additional 153 shares during the period. Global Retirement Partners LLC boosted its position in ONEOK by 24.7% during the first quarter. Global Retirement Partners LLC now owns 798 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 158 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in ONEOK by 1.2% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,140 shares of the utilities provider’s stock valued at $904,000 after purchasing an additional 160 shares in the last quarter. Trust Co. of Oklahoma boosted its position in ONEOK by 1.6% during the first quarter. Trust Co. of Oklahoma now owns 11,084 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 170 shares in the last quarter. Finally, Boenning & Scattergood Inc. boosted its position in ONEOK by 5.5% during the second quarter. Boenning & Scattergood Inc. now owns 3,850 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Shares of ONEOK stock traded up $0.46 on Tuesday, reaching $68.13. 757,889 shares of the stock were exchanged, compared to its average volume of 1,981,568. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.81 and a quick ratio of 0.60. ONEOK, Inc. has a twelve month low of $50.26 and a twelve month high of $72.38. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.17. The company has a 50 day simple moving average of $69.03.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was down 17.0% compared to the same quarter last year. On average, research analysts predict that ONEOK, Inc. will post 3.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.89 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.23%. ONEOK’s payout ratio is 124.46%.

A number of brokerages recently weighed in on OKE. Raymond James downgraded ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Argus raised their price target on ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday. Citigroup raised their price target on ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Mitsubishi UFJ Financial Group raised their price target on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $72.16.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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