Catalyst Capital Advisors LLC Purchases 217,001 Shares of ONEOK, Inc. (NYSE:OKE)

Catalyst Capital Advisors LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 144.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 367,433 shares of the utilities provider's stock after acquiring an additional 217,001 shares during the quarter. ONEOK makes up about 0.7% of Catalyst Capital Advisors LLC's holdings, making the stock its 26th largest position. Catalyst Capital Advisors LLC owned about 0.06% of ONEOK worth $36,457,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Scotiabank dropped their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. 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 report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.14.

ONEOK Price Performance

OKE traded down $1.96 during trading on Monday, reaching $80.18. 3,927,604 shares of the company were exchanged, compared to its average volume of 3,449,411. The company's 50-day moving average is $82.27 and its two-hundred day moving average is $91.46. The company has a market cap of $50.48 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.61 and a beta of 0.93. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period last year, the company posted $1.09 EPS. Research analysts forecast 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 $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.14%. ONEOK's dividend payout ratio is currently 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.