RDA Financial Network Reduces Position in ONEOK, Inc. (NYSE:OKE)

RDA Financial Network lessened its holdings in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,277 shares of the utilities provider’s stock after selling 247 shares during the quarter. RDA Financial Network’s holdings in ONEOK were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. CVA Family Office LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $28,000. Elmwood Wealth Management Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $29,000. Missouri Trust & Investment Co bought a new position in shares of ONEOK during the fourth quarter valued at approximately $30,000. Covestor Ltd bought a new position in shares of ONEOK during the fourth quarter valued at approximately $31,000. Finally, Larson Financial Group LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $33,000. Institutional investors own 65.46% of the company’s stock.

A number of research firms have issued reports on OKE. US Capital Advisors reiterated an “overweight” rating on shares of ONEOK in a report on Wednesday, June 1st. Royal Bank of Canada increased their price objective on ONEOK from $63.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, March 17th. Morgan Stanley increased their price objective on ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Truist Financial increased their price objective on ONEOK from $72.00 to $78.00 in a report on Thursday, March 3rd. Finally, Credit Suisse Group raised their price target on ONEOK from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, March 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.08.

In related news, CEO Pierce Norton acquired 8,975 shares of the firm’s stock in a transaction dated Friday, June 17th. The shares were purchased at an average price of $55.54 per share, with a total value of $498,471.50. Following the completion of the purchase, the chief executive officer now directly owns 9,414 shares of the company’s stock, valued at $522,853.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by company insiders.

ONEOK stock opened at $53.82 on Thursday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55. ONEOK, Inc. has a one year low of $48.51 and a one year high of $75.07. The stock has a market capitalization of $24.04 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.75. The business’s fifty day moving average is $64.80 and its 200 day moving average is $64.07.

ONEOK (NYSE:OKEGet Rating) last announced its earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). ONEOK had a return on equity of 25.33% and a net margin of 8.01%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 3.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were paid a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 6.95%. The ex-dividend date was Friday, April 29th. ONEOK’s dividend payout ratio (DPR) is currently 110.98%.

ONEOK Profile (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in 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.

Further Reading

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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