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

Red Door Wealth Management LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 8.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 13,736 shares of the utilities provider’s stock after selling 1,241 shares during the period. Red Door Wealth Management LLC’s holdings in ONEOK were worth $1,101,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of ONEOK by 7.9% during 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 period. Treasurer of the State of North Carolina raised its position in ONEOK by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 196,390 shares of the utilities provider’s stock valued at $12,457,000 after acquiring an additional 990 shares in the last quarter. Tower Research Capital LLC TRC raised its position in ONEOK by 273.1% during the third quarter. Tower Research Capital LLC TRC now owns 49,284 shares of the utilities provider’s stock valued at $3,126,000 after acquiring an additional 36,073 shares in the last quarter. Bank of Nova Scotia raised its position in ONEOK by 346.1% during the third quarter. Bank of Nova Scotia now owns 162,122 shares of the utilities provider’s stock valued at $10,283,000 after acquiring an additional 125,778 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in ONEOK by 9.3% during the third quarter. Toronto Dominion Bank now owns 282,924 shares of the utilities provider’s stock valued at $17,946,000 after acquiring an additional 24,122 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. Barclays lifted their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Stifel Nicolaus lifted 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. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Morgan Stanley boosted their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

Shares of OKE traded up $0.80 during trading hours on Friday, hitting $81.55. 4,256,159 shares of the stock were exchanged, compared to its average volume of 2,691,205. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 12-month low of $60.52 and a 12-month high of $83.31. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. The stock’s 50-day moving average price is $80.15 and its two-hundred day moving average price is $75.81.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for 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 quarter in the previous year, the company posted $2.34 earnings per share. Research analysts expect that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

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