Nicholson Meyer Capital Management Inc. Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Nicholson Meyer Capital Management Inc. bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,692 shares of the utilities provider's stock, valued at approximately $565,000. ONEOK makes up about 0.5% of Nicholson Meyer Capital Management Inc.'s portfolio, making the stock its 26th biggest position.

A number of other institutional investors have also made changes to their positions in the company. Greenline Partners LLC bought a new stake in ONEOK during the fourth quarter valued at $32,000. First Pacific Financial acquired a new position in shares of ONEOK in the 1st quarter valued at about $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK during the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK during the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at approximately $39,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OKE shares. Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus reduced their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Scotiabank reduced their target price on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $104.67.

ONEOK Price Performance

Shares of OKE traded down $0.74 during midday trading on Tuesday, reaching $80.89. The stock had a trading volume of 3,969,398 shares, compared to its average volume of 3,433,304. The firm's 50 day moving average price is $82.57 and its 200-day moving average price is $91.97. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a market capitalization of $50.92 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.60 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 issued its quarterly 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 business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company posted $1.09 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared 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 5.09%. ONEOK's dividend payout ratio (DPR) is 80.47%.

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.