Lindbrook Capital LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Lindbrook Capital LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,459 shares of the utilities provider's stock after acquiring an additional 3,773 shares during the quarter. Lindbrook Capital LLC's holdings in ONEOK were worth $1,931,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Merit Financial Group LLC grew its position in 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 during the period. Cinctive Capital Management LP acquired a new position in shares of ONEOK in the 4th quarter worth approximately $19,909,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of ONEOK by 41.8% during 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. Capital Investment Advisors LLC boosted its holdings in shares of ONEOK by 3.9% during the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after purchasing an additional 10,957 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after acquiring an additional 10,728 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 2.7%

OKE opened at $83.42 on Friday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a market cap of $52.52 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.94 and a beta of 0.93. The business has a fifty day simple moving average of $81.97 and a 200-day simple moving average of $90.14.

ONEOK (NYSE:OKE - Get Free Report) last announced 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). The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKE. Citigroup decreased their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Barclays cut their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.07.

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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