Dynamic Advisor Solutions LLC Sells 1,471 Shares of ONEOK, Inc. (NYSE:OKE)

Dynamic Advisor Solutions LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 8.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,598 shares of the utilities provider’s stock after selling 1,471 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ONEOK were worth $1,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OKE. L.M. Kohn & Company grew its stake in ONEOK by 4.5% in the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider’s stock worth $247,000 after buying an additional 105 shares in the last quarter. Mindset Wealth Management LLC grew its stake in ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider’s stock worth $1,618,000 after buying an additional 106 shares in the last quarter. Marcum Wealth LLC grew its stake in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider’s stock worth $1,017,000 after buying an additional 108 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in ONEOK by 1.9% in the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider’s stock worth $590,000 after buying an additional 112 shares in the last quarter. Finally, West Paces Advisors Inc. grew its stake in ONEOK by 4.7% in the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider’s stock worth $254,000 after buying an additional 114 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.0%

Shares of OKE opened at $82.11 on Tuesday. The stock has a market capitalization of $51.69 billion, a P/E ratio of 17.18, a PEG ratio of 3.77 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $83.14 and a two-hundred day simple moving average of $93.79. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the company earned $1.09 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 annualized dividend and a yield of 5.02%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. Scotiabank cut their price target on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus cut their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Finally, Barclays cut their price objective on shares of 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.69.

About ONEOK

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.