Fractal Investments LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Fractal Investments LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 90.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,290 shares of the utilities provider's stock after buying an additional 202,214 shares during the period. ONEOK accounts for about 5.9% of Fractal Investments LLC's investment portfolio, making the stock its 6th largest position. Fractal Investments LLC owned about 0.07% of ONEOK worth $42,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of ONEOK by 137.1% in 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 in the last quarter. Proficio Capital Partners LLC bought a new position in ONEOK in the fourth quarter worth about $258,000. Envestnet Portfolio Solutions Inc. raised its holdings in ONEOK by 5.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,497 shares of the utilities provider's stock worth $753,000 after purchasing an additional 374 shares in the last quarter. Summit Global Investments bought a new position in ONEOK in the fourth quarter worth about $243,000. Finally, American Century Companies Inc. raised its holdings in ONEOK by 20.4% in the fourth quarter. American Century Companies Inc. now owns 889,423 shares of the utilities provider's stock worth $89,298,000 after purchasing an additional 150,484 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OKE shares. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barclays dropped their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Citigroup dropped 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. Finally, Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.53.

ONEOK Trading Down 0.0%

Shares of OKE stock traded down $0.02 during mid-day trading on Tuesday, reaching $80.36. The stock had a trading volume of 767,264 shares, compared to its average volume of 3,985,773. ONEOK, Inc. has a 52-week low of $75.47 and a 52-week high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock's 50-day moving average price is $81.97 and its two-hundred day moving average price is $90.06. The firm has a market capitalization of $50.59 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the prior year, the company posted $1.09 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.47%.

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.

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