Nisa Investment Advisors LLC Purchases 7,925 Shares of ONEOK, Inc. (NYSE:OKE)

Nisa Investment Advisors LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,642 shares of the utilities provider's stock after purchasing an additional 7,925 shares during the period. Nisa Investment Advisors LLC's holdings in ONEOK were worth $18,419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Mexico Educational Retirement Board lifted its stake in shares of ONEOK by 4.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 29,010 shares of the utilities provider's stock worth $2,878,000 after acquiring an additional 1,200 shares during the period. Twelve Points Wealth Management LLC boosted its position in shares of ONEOK by 12.8% in the first quarter. Twelve Points Wealth Management LLC now owns 30,045 shares of the utilities provider's stock worth $2,981,000 after buying an additional 3,403 shares during the period. Greenleaf Trust raised its position in ONEOK by 2.5% during the first quarter. Greenleaf Trust now owns 10,073 shares of the utilities provider's stock valued at $999,000 after buying an additional 249 shares during the period. Trek Financial LLC acquired a new position in ONEOK in the 1st quarter valued at approximately $200,000. Finally, Valeo Financial Advisors LLC increased its stake in ONEOK by 2.6% in the 1st quarter. Valeo Financial Advisors LLC now owns 7,088 shares of the utilities provider's stock valued at $703,000 after buying an additional 182 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on OKE shares. TD Cowen started coverage on shares of ONEOK in a research report on Monday. They issued a "hold" rating and a $91.00 target price for the company. Barclays decreased their target price 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. Scotiabank decreased 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 report on Thursday, June 5th. Stifel Nicolaus decreased their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average price target of $103.14.

ONEOK Stock Performance

NYSE:OKE traded down $0.24 during trading hours on Thursday, hitting $80.92. 2,666,337 shares of the company traded hands, compared to its average volume of 3,472,248. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock has a market capitalization of $50.95 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.60 and a beta of 0.93. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average of $81.97 and a 200 day moving average of $91.18.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period last year, the business posted $1.09 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's payout ratio 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.