Sound Income Strategies LLC Acquires 17,153 Shares of ONEOK, Inc. (NYSE:OKE)

Sound Income Strategies LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.1% during the first quarter, Holdings Channel.com reports. The fund owned 205,992 shares of the utilities provider’s stock after buying an additional 17,153 shares during the period. ONEOK accounts for approximately 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 25th largest position. Sound Income Strategies LLC’s holdings in ONEOK were worth $16,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ONEOK in the third quarter worth about $469,000. FMR LLC increased its holdings in shares of ONEOK by 7.9% in the third quarter. FMR LLC now owns 549,701 shares of the utilities provider’s stock worth $34,867,000 after purchasing an additional 40,408 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of ONEOK by 162.1% in the third quarter. Federated Hermes Inc. now owns 122,036 shares of the utilities provider’s stock worth $7,741,000 after purchasing an additional 75,472 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in ONEOK by 11.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 790 shares during the last quarter. Finally, Covestor Ltd increased its stake in ONEOK by 138.5% during the third quarter. Covestor Ltd now owns 1,791 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 1,040 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.6 %

ONEOK stock traded down $0.49 during mid-day trading on Wednesday, reaching $80.53. 1,988,558 shares of the company were exchanged, compared to its average volume of 2,853,302. The business has a fifty day moving average of $80.00 and a 200 day moving average of $75.58. 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 firm has a market cap of $47.00 billion, a P/E ratio of 18.74, a PEG ratio of 4.34 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $58.51 and a 12-month high of $83.31.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Mizuho boosted their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Citigroup boosted their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Truist Financial boosted their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Barclays boosted their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.50.

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.