IFM Investors Pty Ltd boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,728 shares of the utilities provider's stock after purchasing an additional 15,585 shares during the period. IFM Investors Pty Ltd's holdings in ONEOK were worth $20,297,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Mindset Wealth Management LLC grew its position in ONEOK by 0.7% in the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock valued at $1,618,000 after purchasing an additional 106 shares in the last quarter. Marcum Wealth LLC grew its position in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 108 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in ONEOK by 1.9% in the fourth quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock valued at $590,000 after purchasing an additional 112 shares in the last quarter. West Paces Advisors Inc. grew its position in ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after purchasing an additional 114 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC lifted its stake in ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 69.13% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Barclays cut their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company cut their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target 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. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and a consensus target price of $104.08.
Check Out Our Latest Stock Analysis on ONEOK
ONEOK Price Performance
OKE stock traded down $0.42 during mid-day trading on Friday, hitting $81.73. The stock had a trading volume of 1,757,598 shares, compared to its average volume of 3,447,486. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.61 and a beta of 0.93. The firm has a fifty day simple moving average of $82.27 and a 200 day simple moving average of $91.50.
ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.
ONEOK Company Profile
(
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.
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