ONEOK, Inc. (NYSE:OKE) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,736 shares of the utilities provider’s stock after selling 1,241 shares during the quarter. Red Door Wealth Management LLC’s holdings in ONEOK were worth $1,101,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OKE. Rise Advisors LLC acquired a new stake in shares of ONEOK in the first quarter valued at approximately $25,000. Beacon Capital Management LLC boosted its position in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in ONEOK in the fourth quarter valued at $32,000. American National Bank purchased a new position in ONEOK in the first quarter valued at $32,000. Finally, Security National Bank purchased a new position in ONEOK in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE traded up $0.80 during trading on Friday, reaching $81.55. The company had a trading volume of 4,256,159 shares, compared to its average volume of 2,691,205. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31. The stock has a market cap of $47.60 billion, a PE ratio of 18.97, a PEG ratio of 4.37 and a beta of 1.65. 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 business’s 50 day moving average price is $80.15 and its 200-day moving average price is $75.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the business posted $2.34 earnings per share. Analysts expect that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The firm 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 was Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.86%. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of analyst reports. Stifel Nicolaus raised their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley boosted their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, Mizuho lifted their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Company 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.