Alps Advisors Inc. Buys 71,329 Shares of ONEOK, Inc. (NYSE:OKE)

Alps Advisors Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 486,277 shares of the utilities provider's stock after acquiring an additional 71,329 shares during the quarter. Alps Advisors Inc. owned 0.08% of ONEOK worth $48,248,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of ONEOK during the 4th quarter worth approximately $258,000. Assetmark Inc. raised its stake in shares of ONEOK by 43.2% during the 4th quarter. Assetmark Inc. now owns 1,806 shares of the utilities provider's stock worth $181,000 after purchasing an additional 545 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of ONEOK by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 85,970 shares of the utilities provider's stock worth $8,632,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of ONEOK by 15.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 15,659 shares of the utilities provider's stock worth $1,572,000 after purchasing an additional 2,119 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE traded up $0.41 during trading hours on Friday, hitting $81.32. 960,013 shares of the company were exchanged, compared to its average volume of 3,462,492. The company has a market cap of $51.19 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.54 and a beta of 0.93. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm's fifty day moving average is $81.97 and its 200 day moving average is $91.05.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.07%. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Ratings Changes

A number of research firms recently weighed in on OKE. Barclays dropped their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a research note on Monday. They issued a "hold" rating and a $91.00 price target on the stock. 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, Stifel Nicolaus dropped their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.

About ONEOK

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.