ONEOK, Inc. (NYSE:OKE) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 949,784 shares of the utilities provider's stock after acquiring an additional 66,245 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of ONEOK worth $94,238,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OKE. Vanguard Group Inc. increased its position in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after buying an additional 558,789 shares during the period. Geode Capital Management LLC boosted its stake in shares of ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after buying an additional 357,015 shares during the period. Northern Trust Corp increased its position in ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after acquiring an additional 864,392 shares during the period. Norges Bank purchased a new stake in ONEOK during the 4th quarter valued at approximately $539,554,000. Finally, Bank of New York Mellon Corp grew its stake in shares of ONEOK by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock valued at $469,038,000 after purchasing an additional 117,901 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.6%

OKE traded up $0.47 on Friday, reaching $81.38. The company's stock had a trading volume of 2,315,889 shares, compared to its average volume of 3,417,085. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market cap of $51.23 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The business's 50 day moving average is $81.97 and its 200 day moving average is $91.05.

ONEOK (NYSE:OKE - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm posted $1.09 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Stifel Nicolaus dropped their price objective 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. Scotiabank reduced their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Morgan Stanley increased their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $103.14.

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.