International Assets Investment Management LLC Buys 3,634 Shares of ONEOK, Inc. (NYSE:OKE)

International Assets Investment Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,651 shares of the utilities provider's stock after acquiring an additional 3,634 shares during the period. International Assets Investment Management LLC's holdings in ONEOK were worth $3,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Greenline Partners LLC purchased a new stake in ONEOK during the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK during the fourth quarter worth about $39,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the fourth quarter worth about $40,000. Finally, Rakuten Securities Inc. increased its holdings in ONEOK by 152.1% during the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 254 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.9%

OKE stock traded up $0.73 on Tuesday, reaching $80.58. 3,256,956 shares of the company traded hands, compared to its average volume of 4,131,660. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a fifty day simple moving average of $82.93 and a 200-day simple moving average of $92.79. ONEOK, Inc. has a one year low of $75.47 and a one year high of $118.07. The company has a market cap of $50.73 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share 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 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 previous year, the business earned $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.11%. ONEOK's payout ratio is currently 80.47%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lifted their target price 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. Finally, Barclays decreased 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. Six 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 currently has a consensus rating of "Moderate Buy" and an average 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.