Jefferies Financial Group Inc. Takes $1.11 Million Position in ONEOK, Inc. (NYSE:OKE)

Jefferies Financial Group Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 11,023 shares of the utilities provider's stock, valued at approximately $1,107,000.

Other hedge funds have also modified their holdings of the company. Kingswood Wealth Advisors LLC raised its holdings in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after buying an additional 5,321 shares during the period. Simon Quick Advisors LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $251,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of ONEOK by 9.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after acquiring an additional 136,071 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of ONEOK during the 4th quarter worth approximately $9,483,000. Finally, Cinctive Capital Management LP bought a new position in shares of ONEOK during the 4th quarter worth approximately $19,909,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Finally, Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

ONEOK Trading Down 0.3%

Shares of ONEOK stock traded down $0.30 on Friday, reaching $85.74. 2,820,604 shares of the company's stock were exchanged, compared to its average volume of 3,268,038. The company has a market capitalization of $53.55 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm's 50-day moving average is $88.59 and its two-hundred day moving average is $97.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

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.