Nvwm LLC Has $1.45 Million Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Nvwm LLC significantly increased its stake in ONEOK, Inc. by 86,064.7%, holding 14,648 shares valued at approximately $1.45 million by the end of the first quarter.
• Analyst price targets for ONEOK have been adjusted downward by multiple firms, with Barclays lowering its target from $101.00 to $91.00 and Wells Fargo from $102.00 to $93.00.
• ONEOK announced a quarterly dividend of $1.03 per share, yielding 5.05%, with the payout ratio currently at 80.47%.

Nvwm LLC raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 86,064.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,648 shares of the utilities provider's stock after buying an additional 14,631 shares during the quarter. Nvwm LLC's holdings in ONEOK were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in OKE. Geode Capital Management LLC raised its position in shares of ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp raised its position in shares of ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after purchasing an additional 864,392 shares during the period. Norges Bank acquired a new stake in shares of ONEOK during the fourth quarter worth about $539,554,000. Bank of New York Mellon Corp raised its position in shares of ONEOK by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock worth $469,038,000 after purchasing an additional 117,901 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. 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. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Raymond James Financial decreased their price objective on ONEOK from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, July 22nd. Finally, Barclays decreased their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.86.

ONEOK Stock Performance

Shares of OKE traded down $0.92 during mid-day trading on Wednesday, reaching $82.56. The company's stock had a trading volume of 974,148 shares, compared to its average volume of 3,944,841. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The stock has a market cap of $51.97 billion, a P/E ratio of 16.14, a PEG ratio of 1.94 and a beta of 0.93. The business has a 50-day simple moving average of $81.44 and a two-hundred day simple moving average of $89.15. 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 (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) 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 business earned $1.09 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.99%. ONEOK's payout ratio is 80.47%.

About ONEOK

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.