Bayesian Capital Management LP Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Bayesian Capital Management LP acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 19,585 shares of the utilities provider's stock, valued at approximately $1,966,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter worth about $39,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK in the 4th quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC bought a new position in ONEOK during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

OKE traded up $1.98 on Thursday, reaching $82.23. The stock had a trading volume of 4,868,804 shares, compared to its average volume of 3,238,217. The firm has a 50-day moving average of $89.62 and a 200-day moving average of $98.26. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm posted $1.09 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKE. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Scotiabank decreased their price objective on shares of ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Citigroup lowered their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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.