ONEOK, Inc. (NYSE:OKE) Shares Acquired by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC increased its stakes in ONEOK, Inc. by 108.2% during Q1, owning 557,070 shares which now represent 2.3% of its portfolio.
• The company recently reported quarterly earnings with an EPS of $1.34, exceeding estimates, and revealed a quarterly dividend of $1.03 per share, resulting in a 5.5% yield.
• ONEOK stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $104.57, following recent adjustments from several investment firms.

Eagle Global Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 108.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 557,070 shares of the utilities provider's stock after buying an additional 289,441 shares during the quarter. ONEOK comprises approximately 2.3% of Eagle Global Advisors LLC's portfolio, making the stock its 11th biggest position. Eagle Global Advisors LLC owned about 0.09% of ONEOK worth $55,272,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC increased its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. FMR LLC boosted its holdings in ONEOK by 4.6% in the 4th quarter. FMR LLC now owns 1,225,282 shares of the utilities provider's stock worth $123,018,000 after buying an additional 53,365 shares during the period. FIL Ltd purchased a new stake in shares of ONEOK during the fourth quarter worth about $913,000. Rockefeller Capital Management L.P. grew its stake in ONEOK by 3.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283,470 shares of the utilities provider's stock valued at $28,454,000 after acquiring an additional 8,333 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of ONEOK by 1.5% in the fourth quarter. Townsquare Capital LLC now owns 108,914 shares of the utilities provider's stock worth $10,935,000 after buying an additional 1,572 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 0.7%

NYSE OKE traded down $0.53 during trading hours on Thursday, reaching $74.80. The company had a trading volume of 3,106,860 shares, compared to its average volume of 3,976,282. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $47.11 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The stock has a 50-day moving average of $80.48 and a 200 day moving average of $87.01. ONEOK, Inc. has a 1-year low of $73.02 and a 1-year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same period last year, the business posted $1.33 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share 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 issued a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. ONEOK's dividend payout ratio is presently 80.31%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Wells Fargo & Company cut 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. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, Barclays set a $83.00 price objective on ONEOK in a research note on Thursday. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

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.