Asset Management One Co. Ltd. Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Asset Management One Co. Ltd. raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,465 shares of the utilities provider's stock after buying an additional 27,901 shares during the quarter. Asset Management One Co. Ltd.'s holdings in ONEOK were worth $28,522,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its position in ONEOK by 59.8% in the first quarter. Oppenheimer & Co. Inc. now owns 75,032 shares of the utilities provider's stock valued at $7,445,000 after buying an additional 28,078 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in ONEOK by 10.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,556 shares of the utilities provider's stock valued at $3,826,000 after buying an additional 3,638 shares during the last quarter. EQ Wealth Advisors LLC acquired a new position in ONEOK in the first quarter valued at about $80,000. Cambridge Investment Research Advisors Inc. lifted its position in ONEOK by 0.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 137,177 shares of the utilities provider's stock valued at $13,611,000 after buying an additional 728 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. Citigroup reduced their price target on shares of 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 reduced their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Scotiabank reduced their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Barclays reduced their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company reduced their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.69.

ONEOK Stock Up 1.4%

Shares of OKE stock traded up $1.11 during trading hours on Thursday, reaching $81.30. 3,332,090 shares of the stock were exchanged, compared to its average volume of 3,417,606. The business's fifty day moving average is $82.77 and its two-hundred day moving average is $92.62. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The firm has a market capitalization of $51.18 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.58 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.07%. ONEOK's dividend payout ratio is currently 80.47%.

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.