Nisa Investment Advisors LLC Increases Stake in ONEOK, Inc. (NYSE:OKE)

Nisa Investment Advisors LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 185,642 shares of the utilities provider's stock after acquiring an additional 7,925 shares during the quarter. Nisa Investment Advisors LLC's holdings in ONEOK were worth $18,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $32,000. First Pacific Financial bought a new stake in shares of ONEOK in the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK in the 1st quarter worth approximately $39,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OKE. Citigroup lowered their price objective 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. Scotiabank lowered their price target 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. Stifel Nicolaus lowered 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. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, Barclays lowered their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.14.

ONEOK Trading Up 0.2%

NYSE OKE traded up $0.14 during trading on Friday, hitting $81.05. The company had a trading volume of 847,135 shares, compared to its average volume of 4,028,336. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a one year low of $75.47 and a one year high of $118.07. The company has a market cap of $51.02 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company's fifty day moving average is $81.97 and its 200-day moving average is $91.05.

ONEOK (NYSE:OKE - Get Free Report) last released its 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). The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the prior year, the company earned $1.09 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

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.