ONEOK, Inc. (NYSE:OKE) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,992 shares of the utilities provider’s stock after acquiring an additional 17,153 shares during the period. ONEOK accounts for 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 25th largest position. Sound Income Strategies LLC’s holdings in ONEOK were worth $16,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hoxton Planning & Management LLC grew its position in shares of ONEOK by 6.9% during the first quarter. Hoxton Planning & Management LLC now owns 3,887 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 252 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of ONEOK by 1.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock worth $1,561,000 after acquiring an additional 350 shares during the last quarter. Nova R Wealth Inc. bought a new position in ONEOK in the 1st quarter valued at about $207,000. Miller Howard Investments Inc. NY grew its position in ONEOK by 11.8% in the 1st quarter. Miller Howard Investments Inc. NY now owns 340,421 shares of the utilities provider’s stock valued at $27,292,000 after buying an additional 35,957 shares in the last quarter. Finally, Ignite Planners LLC bought a new position in ONEOK in the 1st quarter valued at about $214,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Citigroup upped their price target on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus upped their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average target price of $84.50.

ONEOK Stock Down 0.6 %

Shares of NYSE OKE traded down $0.49 during mid-day trading on Wednesday, reaching $80.53. The company had a trading volume of 1,988,558 shares, compared to its average volume of 2,853,302. The stock has a fifty day moving average of $80.00 and a two-hundred day moving average of $75.58. 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 company has a market capitalization of $47.00 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 4.34 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $58.51 and a 12-month high of $83.31.

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

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.92%. ONEOK’s dividend payout ratio is currently 92.09%.

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.