Mirae Asset Global Investments Co. Ltd. Purchases 104,707 Shares of ONEOK, Inc. (NYSE:OKE)

Mirae Asset Global Investments Co. Ltd. increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600,720 shares of the utilities provider's stock after buying an additional 104,707 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.10% of ONEOK worth $59,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. LaFleur & Godfrey LLC bought a new position in shares of ONEOK in the fourth quarter worth $931,000. Brighton Jones LLC boosted its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Whipplewood Advisors LLC bought a new position in ONEOK in the 4th quarter worth about $216,000. New York Life Investment Management LLC boosted its stake in ONEOK by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 86,778 shares of the utilities provider's stock worth $8,713,000 after purchasing an additional 267 shares during the period. Finally, Kovack Advisors Inc. boosted its position in shares of ONEOK by 20.1% in the fourth quarter. Kovack Advisors Inc. now owns 8,042 shares of the utilities provider's stock valued at $807,000 after acquiring an additional 1,347 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE:OKE traded down $0.05 during mid-day trading on Friday, reaching $81.27. The stock had a trading volume of 3,206,043 shares, compared to its average volume of 3,429,833. The firm has a 50 day moving average price of $82.57 and a two-hundred day moving average price of $92.30. The stock has a market capitalization of $51.16 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.59 and a beta of 0.94. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67.

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 for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.07%. ONEOK's payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

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

ONEOK Company 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.