ONEOK, Inc. (NYSE:OKE) Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in ONEOK, Inc. by 25.1%, owning over 8.3 million shares worth approximately $827 million after a recent purchase.
• ONEOK reported earnings of $1.34 per share for the last quarter, surpassing analysts' estimates, with revenues of $8.21 billion.
• The company declared a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.5%.

Invesco Ltd. boosted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 25.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,339,939 shares of the utilities provider's stock after buying an additional 1,674,706 shares during the period. Invesco Ltd. owned 1.34% of ONEOK worth $827,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Marcum Wealth LLC increased its stake in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 108 shares in the last quarter. West Paces Advisors Inc. boosted its position in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after acquiring an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC boosted its position in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after acquiring an additional 130 shares during the period. Uniplan Investment Counsel Inc. boosted its position in ONEOK by 0.3% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock worth $5,117,000 after acquiring an additional 132 shares during the period. Finally, Visionary Wealth Advisors boosted its position in ONEOK by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock worth $635,000 after acquiring an additional 132 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.3%

Shares of OKE stock opened at $74.53 on Friday. ONEOK, Inc. has a 12 month low of $74.23 and a 12 month high of $118.07. The firm has a market cap of $46.94 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The stock has a 50 day moving average of $80.95 and a 200-day moving average of $87.52. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the company earned $1.33 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. ONEOK's payout ratio is 80.31%.

Analysts Set New Price Targets

A number of brokerages have commented on OKE. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research 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 research report on Thursday, May 1st. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Finally, Barclays reduced their price target 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 equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and an average target price of $104.57.

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.

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