SeaCrest Wealth Management LLC Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

SeaCrest Wealth Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 35.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,267 shares of the utilities provider’s stock after selling 3,945 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in ONEOK were worth $583,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of ONEOK by 464.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock worth $15,875,000 after buying an additional 162,963 shares during the period. AlphaMark Advisors LLC increased its stake in shares of ONEOK by 22.1% in the first quarter. AlphaMark Advisors LLC now owns 7,102 shares of the utilities provider’s stock worth $569,000 after buying an additional 1,285 shares during the period. Oak Thistle LLC purchased a new position in shares of ONEOK in the first quarter worth $398,000. Hexagon Capital Partners LLC increased its stake in shares of ONEOK by 49.6% in the first quarter. Hexagon Capital Partners LLC now owns 5,095 shares of the utilities provider’s stock worth $409,000 after buying an additional 1,690 shares during the period. Finally, Diversified Trust Co increased its stake in shares of ONEOK by 8.7% in the first quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after buying an additional 323 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $82.33 on Wednesday. The stock has a market cap of $48.05 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 4.37 and a beta of 1.65. The firm’s 50-day moving average is $80.19 and its 200 day moving average is $75.97. ONEOK, Inc. has a 1 year low of $60.52 and a 1 year high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the business posted $2.34 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Analysts Set New Price Targets

Several research analysts recently commented on OKE shares. Wells Fargo & Company lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Citigroup boosted their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Morgan Stanley boosted their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.50.

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.