Miller Howard Investments Inc. NY Acquires 4,029 Shares of ONEOK, Inc. (NYSE:OKE)

Miller Howard Investments Inc. NY increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,675 shares of the utilities provider's stock after buying an additional 4,029 shares during the quarter. Miller Howard Investments Inc. NY owned 0.06% of ONEOK worth $35,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in ONEOK during the 4th quarter worth $32,000. First Pacific Financial bought a new position in shares of ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK during the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the 4th quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK during the first quarter valued at about $39,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 1.3%

ONEOK stock traded up $1.03 during trading hours on Wednesday, hitting $82.02. The company had a trading volume of 3,055,873 shares, compared to its average volume of 3,431,802. The firm has a market capitalization of $51.63 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.60 and a beta of 0.93. The firm's fifty day moving average is $82.50 and its 200-day moving average is $91.90. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. 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 quarterly earnings data 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Ratings Changes

OKE has been the topic of a number of analyst reports. Wells Fargo & Company decreased 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. Citigroup decreased their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Scotiabank cut their target price on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $104.67.

ONEOK Profile

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.