Lee Financial Co Buys 7,355 Shares of ONEOK, Inc. $OKE

by · The Markets Daily

Lee Financial Co raised its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 41.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,033 shares of the utilities provider’s stock after buying an additional 7,355 shares during the period. ONEOK comprises approximately 0.4% of Lee Financial Co’s holdings, making the stock its 26th largest holding. Lee Financial Co’s holdings in ONEOK were worth $2,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. Greenline Partners LLC bought a new stake in ONEOK during the 4th quarter worth about $32,000. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK during the fourth quarter worth approximately $37,000. Financial Network Wealth Advisors LLC lifted its holdings in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the fourth quarter valued at approximately $39,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on OKE. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada cut their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. JPMorgan Chase & Co. raised their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $103.57.

Check Out Our Latest Report on OKE

ONEOK Price Performance

Shares of OKE opened at $74.00 on Monday. The stock has a 50 day simple moving average of $80.20 and a 200 day simple moving average of $86.46. ONEOK, Inc. has a 52-week low of $73.02 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market capitalization of $46.60 billion, a PE ratio of 14.42, a P/E/G ratio of 1.75 and a beta of 0.99.

ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK’s dividend payout ratio is 80.31%.

ONEOK Profile

(Free Report)

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.

Further Reading

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