Centennial Wealth Advisory LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Centennial Wealth Advisory LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,091 shares of the utilities provider’s stock after buying an additional 641 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in ONEOK were worth $604,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the 4th quarter worth $39,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter valued at $40,000. Finally, Rakuten Securities Inc. raised its holdings in shares of ONEOK by 152.1% in the first quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock valued at $42,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.4%

OKE stock opened at $81.07 on Thursday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The company has a market cap of $51.04 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.60 and a beta of 0.94. The company’s 50-day moving average price is $83.00 and its 200 day moving average price is $93.62.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the firm earned $1.09 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.08%. ONEOK’s payout ratio is 80.47%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Scotiabank lowered their target price on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.69.

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.