SFE Investment Counsel grew its stake in ONEOK, Inc. (NYSE:OKE) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,761 shares of the utilities provider’s stock after buying an additional 1,183 shares during the quarter. ONEOK accounts for about 2.2% of SFE Investment Counsel’s portfolio, making the stock its 16th largest holding. SFE Investment Counsel’s holdings in ONEOK were worth $5,144,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of OKE. C J Advisory Inc acquired a new position in shares of ONEOK in the 1st quarter valued at about $26,000. Pinnacle Financial Partners Inc. acquired a new position in shares of ONEOK in the 1st quarter valued at about $27,000. Buffington Mohr McNeal acquired a new position in shares of ONEOK in the 1st quarter valued at about $28,000. JNBA Financial Advisors lifted its holdings in shares of ONEOK by 91.3% in the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after buying an additional 200 shares during the period. Finally, IMA Wealth Inc. acquired a new position in shares of ONEOK in the 2nd quarter valued at about $32,000. 74.52% of the stock is owned by institutional investors and hedge funds.
Shares of ONEOK stock traded down $1.02 on Wednesday, hitting $67.08. The company’s stock had a trading volume of 1,215,255 shares, compared to its average volume of 1,981,568. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $72.38. The firm’s fifty day moving average is $69.10. The firm has a market cap of $29.32 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.89 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Monday, August 5th. ONEOK’s payout ratio is 124.46%.
Several equities analysts have recently issued reports on OKE shares. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Argus boosted their price objective on ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday. Raymond James cut ONEOK from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 16th. Mitsubishi UFJ Financial Group boosted their price objective on ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Citigroup lifted their price target on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. ONEOK has an average rating of “Hold” and a consensus target price of $72.16.
ONEOK Company 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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