Pinnacle Holdings LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,509 shares of the utilities provider’s stock after selling 966 shares during the quarter. ONEOK makes up about 1.9% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 4th largest position. Pinnacle Holdings LLC’s holdings in ONEOK were worth $5,196,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Liberty Wealth Management LLC boosted its holdings in ONEOK by 25.1% during the 2nd quarter. Liberty Wealth Management LLC now owns 748 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 150 shares during the period. Synovus Financial Corp boosted its holdings in ONEOK by 3.7% during the 2nd quarter. Synovus Financial Corp now owns 4,291 shares of the utilities provider’s stock valued at $296,000 after acquiring an additional 152 shares during the period. YorkBridge Wealth Partners LLC boosted its holdings in ONEOK by 36.8% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 569 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 153 shares during the period. Global Retirement Partners LLC boosted its holdings in ONEOK by 24.7% during the 1st quarter. Global Retirement Partners LLC now owns 798 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 158 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in ONEOK by 1.2% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,140 shares of the utilities provider’s stock valued at $904,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Several equities research analysts recently weighed in on the company. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Mitsubishi UFJ Financial Group increased their price objective on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Credit Suisse Group increased their price objective on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus increased their price objective on ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. Finally, UBS Group upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a report on Monday, August 12th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $72.37.

NYSE OKE traded up $0.43 on Friday, hitting $74.36. The company’s stock had a trading volume of 1,203,391 shares, compared to its average volume of 1,775,139. ONEOK, Inc. has a 52-week low of $50.26 and a 52-week high of $74.65. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. The company’s 50-day simple moving average is $69.81 and its 200 day simple moving average is $68.30. The firm has a market cap of $30.36 billion, a P/E ratio of 26.75, a PEG ratio of 2.06 and a beta of 1.13.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue was down 17.0% compared to the same quarter last year. On average, research analysts forecast that ONEOK, Inc. will post 3.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were given a $0.89 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.56 annualized dividend and a dividend yield of 4.79%. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. ONEOK’s dividend payout ratio is currently 128.06%.

ONEOK Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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