Allspring Global Investments Holdings LLC Acquires 60,915 Shares of ONEOK, Inc. (NYSE:OKE)

Allspring Global Investments Holdings LLC boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 20.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,504 shares of the utilities provider's stock after purchasing an additional 60,915 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of ONEOK worth $35,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after purchasing an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC raised its stake in shares of ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after acquiring an additional 357,015 shares during the last quarter. Northern Trust Corp lifted its holdings 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 during the period. Finally, Norges Bank bought a new stake in shares of ONEOK in the 4th quarter valued at about $539,554,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKE. Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Scotiabank dropped their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus reduced their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $104.67.

ONEOK Stock Performance

OKE traded down $0.56 during trading on Wednesday, hitting $80.43. 469,523 shares of the company traded hands, compared to its average volume of 3,421,799. The firm has a market cap of $50.63 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.93. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The stock's fifty day moving average is $82.50 and its 200 day moving average is $91.90.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's 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.