ONEOK, Inc. (NYSE:OKE) Holdings Raised by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,754 shares of the utilities provider's stock after buying an additional 33,509 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.05% of ONEOK worth $31,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Merit Financial Group LLC grew its position in shares of ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after buying an additional 1,180 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $19,909,000. Americana Partners LLC grew its position in shares of ONEOK by 258.6% during the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider's stock worth $27,292,000 after buying an additional 196,038 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $34,360,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in ONEOK by 41.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock worth $1,546,000 after purchasing an additional 4,538 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE traded down $1.64 during midday trading on Monday, hitting $82.11. 5,523,215 shares of the stock traded hands, compared to its average volume of 3,392,057. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market capitalization of $51.69 billion, a PE ratio of 17.18, a price-to-earnings-growth 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. The business's 50 day moving average price is $83.14 and its two-hundred day moving average price is $93.79.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup decreased their price objective 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. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Barclays decreased their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Finally, Scotiabank decreased their price objective on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $103.69.

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.