3,365 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Global Trust Asset Management LLC

Global Trust Asset Management LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,365 shares of the utilities provider's stock, valued at approximately $334,000.

A number of other institutional investors also recently modified their holdings of OKE. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at about $539,554,000. Wellington Management Group LLP increased its position in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after acquiring an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after acquiring an additional 1,971,147 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK in the fourth quarter valued at about $177,045,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OKE shares. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus dropped their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.80 during trading hours on Tuesday, reaching $81.35. 3,513,603 shares of the stock were exchanged, compared to its average volume of 3,392,541. The firm has a market capitalization of $51.21 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 3.77 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The stock's fifty day simple moving average is $83.14 and its 200 day simple moving average is $93.79.

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 analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.

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.