Cambridge Financial Group Inc. cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,475 shares of the utilities provider’s stock after selling 1,015 shares during the quarter. Cambridge Financial Group Inc.’s holdings in ONEOK were worth $1,864,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Tarbox Family Office Inc. lifted its position in shares of ONEOK by 113.1% during the fourth quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock valued at $25,000 after buying an additional 173 shares during the last quarter. Northern Oak Wealth Management Inc. purchased a new stake in shares of ONEOK during the fourth quarter valued at about $26,000. Duncker Streett & Co. Inc. purchased a new stake in shares of ONEOK during the fourth quarter valued at about $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at about $28,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at about $30,000. 72.22% of the stock is owned by institutional investors.
Several research firms have commented on OKE. UBS Group lowered shares of ONEOK from a “buy” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $34.00 in a research report on Wednesday, May 13th. Robert W. Baird lowered shares of ONEOK from an “outperform” rating to a “neutral” rating in a research report on Monday, March 9th. Tudor Pickering lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research report on Monday, April 20th. ValuEngine raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.15.
In other news, CAO Mary M. Spears acquired 2,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $20.67 per share, with a total value of $41,340.00. Following the purchase, the chief accounting officer now directly owns 11,563 shares of the company’s stock, valued at $239,007.21. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian L. Derksen acquired 8,700 shares of the company’s stock in a transaction dated Wednesday, March 25th. The shares were purchased at an average cost of $22.70 per share, for a total transaction of $197,490.00. Following the purchase, the director now directly owns 13,800 shares in the company, valued at $313,260. The disclosure for this purchase can be found here. Insiders have bought a total of 156,887 shares of company stock worth $3,513,025 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
NYSE:OKE traded up $0.18 during midday trading on Friday, hitting $36.20. The company’s stock had a trading volume of 3,756,316 shares, compared to its average volume of 6,030,271. ONEOK, Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $78.48. The firm’s 50 day moving average is $28.81 and its 200-day moving average is $56.91. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.36 and a quick ratio of 1.01. The firm has a market cap of $14.91 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.13 and a beta of 2.15.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. ONEOK had a net margin of 8.40% and a return on equity of 21.11%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, analysts forecast that ONEOK, Inc. will post 2.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were paid a dividend of $0.935 per share. The ex-dividend date was Friday, April 24th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 10.33%. ONEOK’s payout ratio is 121.82%.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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