ONEOK, Inc. (NYSE:OKE) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. cut its stake in ONEOK, Inc. (NYSE:OKE) by 65.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,453 shares of the utilities provider’s stock after selling 6,405 shares during the period. Symphony Financial Ltd. Co.’s holdings in ONEOK were worth $277,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its holdings in shares of ONEOK by 22.9% during the first quarter. MCF Advisors LLC now owns 2,284 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 425 shares during the period. First Dallas Securities Inc. increased its holdings in shares of ONEOK by 0.7% during the first quarter. First Dallas Securities Inc. now owns 65,272 shares of the utilities provider’s stock valued at $5,233,000 after purchasing an additional 481 shares during the period. Firethorn Wealth Partners LLC bought a new position in ONEOK during the first quarter valued at about $224,000. Register Financial Advisors LLC bought a new position in ONEOK during the first quarter valued at about $229,000. Finally, Stokes Capital Advisors LLC boosted its stake in ONEOK by 5.8% during the first quarter. Stokes Capital Advisors LLC now owns 5,491 shares of the utilities provider’s stock valued at $440,000 after buying an additional 301 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research reports. Morgan Stanley raised their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Citigroup raised their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. 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 company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average target price of $84.50.

ONEOK Stock Up 1.0 %

NYSE:OKE traded up $0.80 on Friday, hitting $81.55. 4,256,159 shares of the company’s stock traded hands, compared to its average volume of 2,691,205. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 1 year low of $60.52 and a 1 year high of $83.31. The firm has a 50-day moving average price of $80.15 and a 200-day moving average price of $75.81. The company has a market cap of $47.60 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 4.33 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the company earned $2.34 EPS. Equities analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. ONEOK’s dividend payout ratio is 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.