ONEOK, Inc. (NYSE:OKE) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in ONEOK, Inc. (NYSE:OKE) by 370.1% in the first quarter, Holdings Channel reports. The firm owned 615,276 shares of the utilities provider’s stock after acquiring an additional 484,403 shares during the period. Cetera Investment Advisers’ holdings in ONEOK were worth $49,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in OKE. LRI Investments LLC purchased a new stake in ONEOK during the 1st quarter valued at approximately $111,000. Garner Asset Management Corp raised its stake in ONEOK by 7.4% during the 1st quarter. Garner Asset Management Corp now owns 22,968 shares of the utilities provider’s stock valued at $1,841,000 after acquiring an additional 1,573 shares during the last quarter. Vista Investment Partners LLC raised its stake in ONEOK by 14.8% during the 1st quarter. Vista Investment Partners LLC now owns 38,224 shares of the utilities provider’s stock valued at $3,064,000 after acquiring an additional 4,937 shares during the last quarter. LBP AM SA raised its stake in ONEOK by 24.6% during the 1st quarter. LBP AM SA now owns 205,764 shares of the utilities provider’s stock valued at $16,496,000 after acquiring an additional 40,569 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake in ONEOK by 56.9% during the 1st quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 232 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OKE shares. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Mizuho increased their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.00.

ONEOK Price Performance

Shares of OKE traded down $1.89 on Friday, reaching $80.17. The stock had a trading volume of 3,390,539 shares, compared to its average volume of 2,238,059. The firm has a market capitalization of $46.79 billion, a PE ratio of 18.64, a PEG ratio of 4.37 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $81.43 and a 200 day moving average of $78.00. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $86.20.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the prior year, the firm earned $2.34 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.02 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

ONEOK 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.