Berman Capital Advisors LLC Buys 371 Shares of ONEOK, Inc. (NYSE:OKE)

Berman Capital Advisors LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 15.5% in the second quarter, Holdings Channel reports. The institutional investor owned 2,760 shares of the utilities provider’s stock after acquiring an additional 371 shares during the period. Berman Capital Advisors LLC’s holdings in ONEOK were worth $152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its position in shares of ONEOK by 32.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 190 shares during the last quarter. Rothschild Investment Corp IL lifted its position in shares of ONEOK by 2.8% during the second quarter. Rothschild Investment Corp IL now owns 7,503 shares of the utilities provider’s stock worth $417,000 after purchasing an additional 203 shares during the last quarter. Barber Financial Group Inc. lifted its position in shares of ONEOK by 4.7% during the second quarter. Barber Financial Group Inc. now owns 4,637 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 209 shares during the last quarter. Brown Advisory Securities LLC lifted its position in shares of ONEOK by 1.3% during the second quarter. Brown Advisory Securities LLC now owns 17,248 shares of the utilities provider’s stock worth $960,000 after purchasing an additional 215 shares during the last quarter. Finally, Lee Financial Co lifted its position in shares of ONEOK by 2.0% during the second quarter. Lee Financial Co now owns 11,489 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 64.04% of the company’s stock.

Several analysts recently weighed in on OKE shares. Morgan Stanley lifted their price objective on ONEOK from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, August 26th. Credit Suisse Group lifted their price objective on ONEOK from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, August 9th. lifted their price objective on ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 8th. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a report on Friday, July 23rd. Finally, Sanford C. Bernstein upgraded ONEOK from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.60.

Shares of OKE stock opened at $57.47 on Friday. ONEOK, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $57.74. The firm has a market capitalization of $25.61 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.66 and a beta of 2.05. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.68 and a current ratio of 0.93. The stock’s 50-day simple moving average is $52.89 and its 200-day simple moving average is $52.93.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. ONEOK had a return on equity of 22.30% and a net margin of 11.90%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.01 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 3.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Monday, August 2nd were paid a dividend of $0.935 per share. The ex-dividend date was Friday, July 30th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.51%. ONEOK’s payout ratio is 263.38%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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