Goldman Sachs Group Inc. Has $585.81 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• Goldman Sachs Group Inc. increased its stake in ONEOK, Inc. by 43.5%, holding approximately 5.9 million shares valued at around $585.8 million by the end of the first quarter.
• ONEOK announced a quarterly dividend of $1.03 per share, offering a 5.5% yield with a payout ratio of 80.47% and is scheduled for payment on August 14th.
• Analysts rate ONEOK with a consensus of "Moderate Buy" and a price target averaging $104.57, reflecting a mix of buy and hold ratings from various financial institutions.

Goldman Sachs Group Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 43.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,904,119 shares of the utilities provider's stock after buying an additional 1,788,433 shares during the quarter. Goldman Sachs Group Inc. owned 0.95% of ONEOK worth $585,807,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OKE. Greenline Partners LLC bought a new position in shares of ONEOK during the fourth quarter valued at $32,000. First Pacific Financial acquired a new stake in shares of ONEOK during the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. bought a new position in ONEOK during the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the fourth quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at about $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 1.3%

OKE stock traded down $0.95 during midday trading on Friday, reaching $74.53. The stock had a trading volume of 3,159,225 shares, compared to its average volume of 3,619,503. The firm has a market cap of $46.94 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.78 and a beta of 0.99. ONEOK, Inc. has a twelve month low of $74.23 and a twelve month high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $80.95 and a two-hundred day simple moving average of $87.65.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate 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 net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.57.

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.