RDA Financial Network Sells 247 Shares of ONEOK, Inc. (NYSE:OKE)

RDA Financial Network lowered its stake in ONEOK, Inc. (NYSE:OKE – Get Rating) by 7.0% in the 1st quarter, according to its most recent 13F filing 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 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in OKE. CVA Family Office LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $28,000. Elmwood Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at $29,000. Missouri Trust & Investment Co bought a new stake in shares of ONEOK in the 4th quarter valued at $30,000. Covestor Ltd bought a new stake in shares of ONEOK in the 4th quarter valued at $31,000. Finally, Larson Financial Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $33,000. Institutional investors own 65.46% of the company’s stock.

In related news, CEO Pierce Norton purchased 8,975 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The shares were bought at an average cost of $55.54 per share, with a total value of $498,471.50. Following the acquisition, the chief executive officer now owns 9,414 shares of the company’s stock, valued at $522,853.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by insiders.

OKE has been the subject of several research reports. Credit Suisse Group lifted their price target on shares of ONEOK from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, March 15th. Royal Bank of Canada lifted their price target on shares of ONEOK from $63.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday, March 17th. Wells Fargo & Company reduced their price target on shares of ONEOK to $71.00 and set an “equal weight” rating for the company in a research report on Friday, May 20th. StockNews.com initiated coverage on shares of ONEOK in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Mizuho lifted their price target on shares of ONEOK from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.08.

Shares of NYSE:OKE opened at $53.82 on Thursday. The company’s 50-day moving average is $64.80 and its 200 day moving average is $64.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market capitalization of $24.04 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.75. ONEOK, Inc. has a fifty-two week low of $48.51 and a fifty-two week high of $75.07.

ONEOK (NYSE:OKE – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5 billion. ONEOK had a return on equity of 25.33% and a net margin of 8.01%. During the same period last year, the firm posted $0.86 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 3.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Monday, May 2nd were issued a $0.935 dividend. This represents a $3.74 dividend on an annualized basis 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 Company 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