GQG Partners LLC increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 148.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,065,067 shares of the utilities provider's stock after purchasing an additional 1,830,055 shares during the quarter. GQG Partners LLC owned about 0.49% of ONEOK worth $304,116,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after buying an additional 5,076,705 shares in the last quarter. Nuveen LLC purchased a new position in ONEOK during the first quarter worth about $440,535,000. Charles Schwab Investment Management Inc. grew its position in ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after buying an additional 2,542,449 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after buying an additional 1,971,147 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in ONEOK by 43.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider's stock worth $585,807,000 after buying an additional 1,788,433 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK Trading Up 0.5%
OKE opened at $74.05 on Wednesday. The business has a 50 day simple moving average of $80.59 and a two-hundred day simple moving average of $87.09. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.74 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a one year low of $73.02 and a one year high of $118.07.
ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same quarter in the prior year, the company posted $1.33 EPS. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. ONEOK's dividend payout ratio is 80.31%.
Analyst Upgrades and Downgrades
OKE has been the topic of several recent research reports. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.57.
Get Our Latest Research Report on ONEOK
About ONEOK
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

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