Integrated Advisors Network LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

Integrated Advisors Network LLC decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,673 shares of the utilities provider's stock after selling 5,511 shares during the quarter. Integrated Advisors Network LLC's holdings in ONEOK were worth $4,036,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Norges Bank bought a new stake in shares of ONEOK during the 4th quarter worth approximately $539,554,000. Wellington Management Group LLP lifted its position in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after acquiring an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after acquiring an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the 4th quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new position in ONEOK in the 4th quarter worth about $177,045,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 1.3%

Shares of OKE traded up $1.09 during trading hours on Friday, hitting $83.74. 5,356,951 shares of the stock were exchanged, compared to its average volume of 3,379,972. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $52.72 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The business has a 50-day moving average of $83.07 and a 200-day moving average of $94.27. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the firm earned $1.09 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKE. Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Barclays lowered their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Finally, Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.69.

About ONEOK

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.