Bayesian Capital Management LP Makes New Investment in ONEOK, Inc. (NYSE:OKE)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its stake in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $251,000. Sumitomo Mitsui Trust Group Inc. lifted its position in ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after acquiring an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in ONEOK during the 4th quarter worth about $9,483,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley boosted 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. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Finally, Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.08 on Friday, hitting $82.33. The stock had a trading volume of 2,884,754 shares, compared to its average volume of 3,248,639. The stock has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The business's 50 day moving average is $89.10 and its two-hundred day moving average is $98.06.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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). 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 the consensus estimate of $8.23 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

ONEOK 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.