Cambridge Financial Group Inc. Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Cambridge Financial Group Inc. reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,475 shares of the utilities provider’s stock after selling 1,015 shares during the quarter. Cambridge Financial Group Inc.’s holdings in ONEOK were worth $1,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tarbox Family Office Inc. lifted its stake in ONEOK by 113.1% in the 4th quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Northern Oak Wealth Management Inc. purchased a new stake in ONEOK in the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. purchased a new stake in ONEOK in the 4th quarter worth approximately $26,000. Princeton Global Asset Management LLC bought a new position in shares of ONEOK in the 4th quarter worth $28,000. Finally, Verus Capital Partners LLC bought a new position in shares of ONEOK in the 4th quarter worth $30,000. Institutional investors and hedge funds own 72.22% of the company’s stock.

In other ONEOK news, Director Brian L. Derksen purchased 8,700 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was bought at an average cost of $22.70 per share, with a total value of $197,490.00. Following the transaction, the director now directly owns 13,800 shares in the company, valued at approximately $313,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John William Gibson purchased 12,700 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $39.11 per share, with a total value of $496,697.00. Following the completion of the transaction, the chairman now owns 932,139 shares in the company, valued at $36,455,956.29. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 156,887 shares of company stock valued at $3,513,025. Corporate insiders own 0.60% of the company’s stock.

A number of equities analysts have recently commented on OKE shares. Morgan Stanley decreased their price target on shares of ONEOK from $25.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, April 22nd. Mizuho decreased their price target on shares of ONEOK from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Royal Bank of Canada lowered shares of ONEOK from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $43.00 to $32.00 in a report on Friday, May 1st. Scotiabank started coverage on shares of ONEOK in a report on Tuesday, January 28th. They issued a “sector outperform” rating and a $84.00 price target on the stock. Finally, UBS Group lowered shares of ONEOK from a “buy” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $34.00 in a report on Wednesday, May 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus target price of $48.15.

ONEOK stock traded up $0.18 during trading hours on Friday, reaching $36.20. The stock had a trading volume of 3,756,316 shares, compared to its average volume of 6,030,271. The stock has a market cap of $14.91 billion, a PE ratio of 18.85, a PEG ratio of 2.13 and a beta of 2.15. ONEOK, Inc. has a 52 week low of $12.16 and a 52 week high of $78.48. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.36 and a quick ratio of 1.01. The company has a fifty day simple moving average of $28.81 and a 200-day simple moving average of $56.91.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. ONEOK had a net margin of 8.40% and a return on equity of 21.11%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company posted $0.81 EPS. Research analysts predict that ONEOK, Inc. will post 2.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were given a $0.935 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $3.74 annualized dividend and a dividend yield of 10.33%. ONEOK’s dividend payout ratio is 121.82%.

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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