Alps Advisors Inc. Has $48.25 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Alps Advisors Inc. raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 486,277 shares of the utilities provider's stock after buying an additional 71,329 shares during the quarter. Alps Advisors Inc. owned 0.08% of ONEOK worth $48,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mindset Wealth Management LLC raised its position in shares of ONEOK by 0.7% during the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after purchasing an additional 106 shares during the period. Marcum Wealth LLC grew its stake in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in ONEOK by 1.9% in the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock valued at $590,000 after purchasing an additional 112 shares in the last quarter. West Paces Advisors Inc. grew its stake in ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after purchasing an additional 114 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC grew its stake in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. TD Cowen assumed coverage on ONEOK in a research report on Monday. They issued a "hold" rating and a $91.00 price objective for the company. Stifel Nicolaus cut 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 cut their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report 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 report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $103.14.

ONEOK Price Performance

Shares of NYSE OKE opened at $81.13 on Thursday. The stock has a market capitalization of $51.07 billion, a PE ratio of 15.85, a P/E/G ratio of 1.60 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The business has a fifty day moving average price of $81.97 and a two-hundred day moving average price of $91.18. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced 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). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.08%. ONEOK's dividend payout ratio is presently 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.

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