3,584,236 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Boston Partners

Key Points

• Boston Partners has acquired a stake in ONEOK, Inc., purchasing 3,584,236 shares valued at approximately $353.6 million, which represents about 0.57% of the company.
• ONEOK recently reported earnings of $1.34 per share, surpassing the consensus estimate of $1.33, and generated revenues of $8.21 billion compared to expectations of $7.20 billion.
• The company declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 5.6% with a dividend payout ratio of 80.31%.

Boston Partners bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,584,236 shares of the utilities provider's stock, valued at approximately $353,596,000. Boston Partners owned 0.57% of ONEOK as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Greenline Partners LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $32,000. First Pacific Financial acquired a new stake in shares of ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK during the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of ONEOK during the fourth quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after acquiring an additional 370 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OKE shares. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. 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. Royal Bank Of Canada lowered their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Stifel Nicolaus lowered their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

ONEOK Stock Performance

Shares of ONEOK stock traded down $0.53 during trading on Thursday, hitting $74.80. 3,106,860 shares of the stock were exchanged, compared to its average volume of 3,771,225. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company has a fifty day moving average price of $80.36 and a 200-day moving average price of $86.83. ONEOK, Inc. has a 1-year low of $73.02 and a 1-year high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the business earned $1.33 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK's payout ratio is currently 80.31%.

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.