AGP Franklin LLC Acquires Shares of 8,352 ONEOK, Inc. (NYSE:OKE)

Key Points

• AGP Franklin LLC has acquired a new stake in ONEOK, Inc., purchasing 8,352 shares valued at approximately $829,000.
• Several large investors have increased their holdings in ONEOK, with 69.13% of the stock now owned by institutional investors.
• ONEOK recently declared a quarterly dividend of $1.03 per share, representing a 5.05% dividend yield.

AGP Franklin LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,352 shares of the utilities provider's stock, valued at approximately $829,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Wellington Management Group LLP boosted its position in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. ClearBridge Investments Ltd bought a new position in shares of ONEOK during the fourth quarter worth $177,045,000. GAMMA Investing LLC boosted its position in shares of ONEOK by 9,596.3% during the first quarter. GAMMA Investing LLC now owns 1,189,251 shares of the utilities provider's stock worth $117,997,000 after purchasing an additional 1,176,986 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after purchasing an additional 864,392 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target on the stock. Raymond James Financial reduced their price target on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 22nd. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $104.86.

ONEOK Stock Performance

Shares of ONEOK stock traded down $0.24 during trading on Thursday, hitting $81.95. 1,234,790 shares of the stock were exchanged, compared to its average volume of 3,941,386. The stock has a market capitalization of $51.59 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. The company has a fifty day moving average price of $81.45 and a 200-day moving average price of $89.10. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last announced 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 12.15% and a return on equity of 15.58%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company posted $1.09 EPS. As a group, equities 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 will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.03%. ONEOK's dividend payout ratio (DPR) is currently 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.