Bridgewater Advisors Inc. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Bridgewater Advisors Inc. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,355 shares of the utilities provider's stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Greenline Partners LLC purchased a new position in ONEOK during the fourth quarter worth about $32,000. First Pacific Financial purchased a new position in ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter worth about $39,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 2.7%

Shares of OKE stock traded up $2.18 during trading on Friday, reaching $83.42. The company's stock had a trading volume of 4,527,446 shares, compared to its average volume of 4,012,590. 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 company has a market capitalization of $52.52 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.53 and a beta of 0.93. The stock's 50-day moving average price is $81.94 and its 200 day moving average price is $90.33. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year 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 analysts' consensus estimates of $1.28 by ($0.24). The business 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 quarter last year, the firm posted $1.09 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKE. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday. Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Finally, Stifel Nicolaus reduced 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. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $103.07.

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.