ONEOK, Inc. (NYSE:OKE) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,727,250 shares of the utilities provider's stock after acquiring an additional 117,901 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of ONEOK worth $469,038,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Norges Bank acquired a new position in shares of ONEOK during the fourth quarter valued at $539,554,000. Wellington Management Group LLP boosted its holdings 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 valued at $422,373,000 after acquiring an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $280,194,000 after acquiring an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new stake in ONEOK in the fourth quarter worth about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK in the fourth quarter worth about $177,045,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 2.7%

NYSE OKE traded down $2.23 on Monday, hitting $79.91. 1,038,478 shares of the company were exchanged, compared to its average volume of 4,045,533. The company's 50 day moving average price is $82.27 and its 200-day moving average price is $91.46. 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 firm has a market capitalization of $50.31 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. ONEOK, Inc. has a twelve month low of $75.47 and a twelve month high of $118.07.

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 (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.16%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Stifel Nicolaus reduced their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Citigroup reduced their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.14.

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.