Smith Moore & CO. decreased its position in ONEOK, Inc. (NYSE:OKE) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,853 shares of the utilities provider’s stock after selling 616 shares during the period. Smith Moore & CO.’s holdings in ONEOK were worth $771,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in ONEOK in the 2nd quarter worth about $85,000. Corsicana & Co. bought a new position in ONEOK in the 2nd quarter worth about $28,000. Burleson & Company LLC bought a new position in ONEOK in the 1st quarter worth about $29,000. First National Bank of South Miami raised its position in ONEOK by 253.5% in the 1st quarter. First National Bank of South Miami now owns 760 shares of the utilities provider’s stock worth $39,000 after buying an additional 545 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in ONEOK by 32.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock worth $39,000 after buying an additional 190 shares during the last quarter. Institutional investors own 64.04% of the company’s stock.
ONEOK stock opened at $53.05 on Wednesday. The firm has a 50 day moving average of $52.91 and a 200 day moving average of $52.60. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.66 and a beta of 2.05. ONEOK, Inc. has a 12-month low of $23.28 and a 12-month high of $57.55. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 2.31.
The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were issued a $0.935 dividend. This represents a $3.74 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend was Friday, July 30th. ONEOK’s dividend payout ratio is 263.38%.
A number of equities analysts have weighed in on the company. boosted their target price on ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 8th. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a research report on Friday, July 23rd. Citigroup boosted their target price on ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 8th. Morgan Stanley boosted their target price on ONEOK from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 26th. Finally, Wells Fargo & Company boosted their target price on ONEOK from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus target price of $47.27.
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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