Charles Schwab Investment Management Inc. Has $2.08 Billion Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ONEOK, Inc. by 13.8%, owning over 20 million shares valued at approximately $2.08 billion.
• Recent research reports reveal a mix of ratings for ONEOK, with six hold ratings, nine buy ratings, and one strong buy rating, reflecting a consensus rating of "Moderate Buy".
• ONEOK declared a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.5% and a payout ratio of roughly 80.47%.

Charles Schwab Investment Management Inc. boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,957,230 shares of the utilities provider's stock after acquiring an additional 2,542,449 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.36% of ONEOK worth $2,079,376,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Greenline Partners LLC acquired a new position in shares of ONEOK during the 4th quarter worth $32,000. First Pacific Financial bought a new position in ONEOK in the first quarter valued at about $34,000. Vermillion Wealth Management Inc. bought a new position in ONEOK in the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the fourth quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC acquired 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 Trading Down 1.3%

NYSE:OKE traded down $0.95 on Friday, reaching $74.53. 3,159,225 shares of the stock traded hands, compared to its average volume of 3,619,503. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1-year low of $74.23 and a 1-year high of $118.07. The company's 50 day moving average is $80.95 and its 200-day moving average is $87.65. The firm has a market capitalization of $46.94 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted 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. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The company had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the prior year, the company posted $1.33 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is currently 80.31%.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKE. Wells Fargo & Company decreased their price target 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. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada reduced their price objective on ONEOK from $100.00 to $94.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.57.

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.