Oppenheimer & Co. Inc. Buys 28,078 Shares of ONEOK, Inc. (NYSE:OKE)

Oppenheimer & Co. Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 59.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 75,032 shares of the utilities provider's stock after acquiring an additional 28,078 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in ONEOK were worth $7,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC purchased a new position in ONEOK during the fourth quarter valued at approximately $931,000. Brighton Jones LLC raised its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Sigma Planning Corp increased its position in shares of ONEOK by 1.6% during the 4th quarter. Sigma Planning Corp now owns 13,308 shares of the utilities provider's stock valued at $1,336,000 after purchasing an additional 213 shares during the last quarter. Olympiad Research LP bought a new stake in ONEOK in the 4th quarter worth approximately $228,000. Finally, Howard Capital Management Inc. boosted its stake in ONEOK by 3.5% in the fourth quarter. Howard Capital Management Inc. now owns 5,671 shares of the utilities provider's stock worth $569,000 after buying an additional 194 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.73 during midday trading on Tuesday, reaching $80.58. 3,221,100 shares of the company's stock traded hands, compared to its average volume of 3,409,611. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a market cap of $50.73 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.61 and a beta of 0.94. The stock has a 50 day moving average of $82.93 and a 200 day moving average of $92.79.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter last year, the company earned $1.09 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Barclays decreased their target price on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Scotiabank dropped their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.

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.