ONEOK, Inc. (NYSE:OKE) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,177 shares of the utilities provider’s stock after selling 2,478 shares during the period. Silvercrest Asset Management Group LLC’s holdings in ONEOK were worth $2,580,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after acquiring an additional 2,153,295 shares in the last quarter. Northern Trust Corp boosted its stake in shares of ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after purchasing an additional 85,736 shares during the period. Norges Bank acquired a new stake in ONEOK during the 4th quarter valued at $297,948,000. Kayne Anderson Capital Advisors LP increased its stake in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $82.79 on Wednesday. The company has a market cap of $48.32 billion, a P/E ratio of 19.25, a PEG ratio of 4.34 and a beta of 1.65. The business has a 50 day moving average of $81.37 and a two-hundred day moving average of $77.87. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $86.20. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.06 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.78%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on OKE shares. Morgan Stanley lifted their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.83.

ONEOK Profile

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.