Hennion & Walsh Asset Management Inc. Trims Stake in ONEOK, Inc. (NYSE:OKE)

Hennion & Walsh Asset Management Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 22.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,927 shares of the utilities provider’s stock after selling 4,805 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ONEOK were worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in ONEOK in the 1st quarter worth about $25,000. American National Bank purchased a new position in ONEOK in the 1st quarter worth about $32,000. Beacon Capital Management LLC increased its stake in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in ONEOK in the 4th quarter worth about $32,000. Finally, Security National Bank purchased a new position in ONEOK in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.0 %

OKE stock opened at $81.55 on Monday. The firm has a 50 day moving average of $80.15 and a 200 day moving average of $75.87. The stock has a market capitalization of $47.60 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the business posted $2.34 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

Several research analysts recently commented on OKE shares. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK 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.