Concurrent Investment Advisors LLC Has $7.07 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Concurrent Investment Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 36.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,249 shares of the utilities provider's stock after buying an additional 19,021 shares during the period. Concurrent Investment Advisors LLC's holdings in ONEOK were worth $7,069,000 at the end of the most recent quarter.

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

ONEOK Price Performance

Shares of OKE stock traded down $0.42 during trading hours on Friday, reaching $81.73. The company's stock had a trading volume of 1,757,598 shares, compared to its average volume of 3,447,486. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The firm's 50 day simple moving average is $82.27 and its 200-day simple moving average is $91.50. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $51.45 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.61 and a beta of 0.93.

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 (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share 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 issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 80.47%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Barclays decreased their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Scotiabank reduced their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $104.08.

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.