ONEOK, Inc. (NYSE:OKE) Shares Acquired by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,787,580 shares of the utilities provider's stock after purchasing an additional 223,823 shares during the period. ONEOK comprises approximately 6.1% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 8th largest holding. Kayne Anderson Capital Advisors LP owned 0.45% of ONEOK worth $276,584,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after buying an additional 357,015 shares in the last quarter. Northern Trust Corp lifted its position in shares of ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after buying an additional 864,392 shares in the last quarter. Norges Bank purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $539,554,000. Finally, Bank of New York Mellon Corp lifted its position in shares of ONEOK by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock valued at $469,038,000 after buying an additional 117,901 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 0.8%

Shares of NYSE:OKE traded up $0.64 during midday trading on Thursday, reaching $82.31. 1,082,360 shares of the company's stock were exchanged, compared to its average volume of 3,972,062. The firm's 50 day simple moving average is $81.66 and its two-hundred day simple moving average is $89.78. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.88 and a beta of 0.93. ONEOK, Inc. has a fifty-two week low of $75.47 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 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 firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter last year, the business earned $1.09 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.47%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. TD Cowen began coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Barclays reduced their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.53.

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.