DAVENPORT & Co LLC Has $11.08 Million Stake in ONEOK, Inc. (NYSE:OKE)

DAVENPORT & Co LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,719 shares of the utilities provider's stock after buying an additional 13,043 shares during the quarter. DAVENPORT & Co LLC's holdings in ONEOK were worth $11,084,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Greenline Partners LLC bought a new stake in shares of ONEOK during the fourth quarter worth $32,000. First Pacific Financial acquired a new stake in ONEOK in the first quarter worth about $34,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK during the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the 4th quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 0.5%

ONEOK stock traded down $0.42 during mid-day trading on Thursday, hitting $81.73. 1,757,598 shares of the company's stock were exchanged, compared to its average volume of 3,431,489. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a PEG ratio of 1.59 and a beta of 0.93. The company's 50 day simple moving average is $82.45 and its 200-day simple moving average is $91.83.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.09 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

Analysts Set New Price Targets

OKE has been the subject of several analyst reports. Scotiabank lowered their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Six research 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. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $104.08.

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.