Sonora Investment Management Group LLC Has $1.37 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Sonora Investment Management Group LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,771 shares of the utilities provider’s stock after purchasing an additional 708 shares during the period. Sonora Investment Management Group LLC’s holdings in ONEOK were worth $1,366,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. L.M. Kohn & Company grew its holdings in ONEOK by 4.5% in the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider’s stock valued at $247,000 after buying an additional 105 shares in the last quarter. Mindset Wealth Management LLC boosted its holdings in ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider’s stock valued at $1,618,000 after purchasing an additional 106 shares during the period. Marcum Wealth LLC grew its position in shares of ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock worth $1,017,000 after purchasing an additional 108 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings in shares of ONEOK by 1.9% during the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider’s stock worth $590,000 after purchasing an additional 112 shares during the period. Finally, West Paces Advisors Inc. increased its holdings in shares of ONEOK by 4.7% during the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider’s stock worth $254,000 after purchasing an additional 114 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $81.13 on Tuesday. The company has a 50 day simple moving average of $83.11 and a 200 day simple moving average of $94.85. The stock has a market cap of $51.07 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business earned $1.09 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OKE shares. Wells Fargo & Company cut their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Stifel Nicolaus reduced their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Company Profile

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.