J.W. Cole Advisors Inc. Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

J.W. Cole Advisors Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 65.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,062 shares of the utilities provider's stock after buying an additional 7,969 shares during the period. J.W. Cole Advisors Inc.'s holdings in ONEOK were worth $1,991,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in ONEOK in the fourth quarter worth about $539,554,000. Wellington Management Group LLP lifted its stake in ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $280,194,000 after buying an additional 1,971,147 shares in the last quarter. ClearBridge Investments Ltd purchased a new stake in ONEOK in the 4th quarter worth about $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock worth $153,319,000 after purchasing an additional 1,246,963 shares during the period. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank decreased their price target on shares of ONEOK from $93.00 to $92.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Citigroup dropped 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. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Barclays lowered their target price 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. 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, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $103.07.

ONEOK Trading Down 3.5%

Shares of ONEOK stock opened at $80.42 on Tuesday. The business has a fifty day simple moving average of $81.97 and a two-hundred day simple moving average of $90.06. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a market capitalization of $50.63 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results 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 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 company posted $1.09 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.12%. ONEOK's payout ratio is 80.47%.

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.

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