ONEOK, Inc. (NYSE:OKE) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 2,020.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,259 shares of the utilities provider's stock after buying an additional 139,362 shares during the quarter. ONEOK makes up 0.5% of Edgestream Partners L.P.'s holdings, making the stock its 6th largest position. Edgestream Partners L.P.'s holdings in ONEOK were worth $14,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mindset Wealth Management LLC increased its position in shares of ONEOK by 0.7% in the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock valued at $1,618,000 after buying an additional 106 shares in the last quarter. Marcum Wealth LLC grew its position in shares of ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares during the period. 1620 Investment Advisors Inc. increased its stake in shares of ONEOK by 1.9% during the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock worth $590,000 after purchasing an additional 112 shares in the last quarter. West Paces Advisors Inc. raised its position in shares of ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after purchasing an additional 114 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC lifted its stake in ONEOK by 0.8% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after buying an additional 130 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.3%

NYSE:OKE traded up $0.27 on Monday, reaching $81.61. The company's stock had a trading volume of 2,585,654 shares, compared to its average volume of 4,028,938. ONEOK, Inc. has a 12-month low of $75.47 and a 12-month high of $118.07. The stock has a 50 day moving average price of $81.94 and a 200 day moving average price of $90.75. The firm has a market cap of $51.38 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.55 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 (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same period last year, the business earned $1.09 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 dividend yield of 5.05%. ONEOK's payout ratio is presently 80.47%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus decreased 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. Finally, Barclays lowered their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Seven 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, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.

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.