National Pension Service Purchases 179,864 Shares of ONEOK, Inc. $OKE

Key Points

• The National Pension Service increased its stake in ONEOK, Inc. by 14.2%, owning a total of 1,442,605 shares worth approximately $143.14 million as of the most recent filing.
• ONEOK reported a net revenue of $8.21 billion in its latest earnings, surpassing analysts' expectations of $7.20 billion.
• The company has declared a quarterly dividend of $1.03, leading to an annualized dividend yield of 5.5%.

National Pension Service increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,442,605 shares of the utilities provider's stock after acquiring an additional 179,864 shares during the period. National Pension Service owned approximately 0.23% of ONEOK worth $143,135,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OKE shares. Barclays set a $83.00 price objective on ONEOK in a report on Thursday. Royal Bank Of Canada cut their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Finally, Stifel Nicolaus lowered their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.57.

ONEOK Stock Down 1.2%

NYSE OKE traded down $0.89 during trading on Monday, reaching $73.04. The company's stock had a trading volume of 2,516,745 shares, compared to its average volume of 3,965,107. ONEOK, Inc. has a 1-year low of $72.75 and a 1-year high of $118.07. The business has a 50-day moving average price of $80.20 and a 200-day moving average price of $86.46. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $46.00 billion, a PE ratio of 14.24, a PEG ratio of 1.75 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the business posted $1.33 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

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.