Todd Asset Management LLC Has $69.73 Million Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Todd Asset Management LLC increased its stake in ONEOK, Inc. by 56.7%, owning 702,802 shares after acquiring an additional 254,171 shares in the first quarter.
• ONEOK reported $1.34 earnings per share for the most recent quarter, slightly exceeding analysts' expectations of $1.33, and had a revenue of $8.21 billion compared to estimates of $7.20 billion.
• The company has declared a quarterly dividend of $1.03 per share, yielding approximately 5.5%, with a payout ratio of 80.31%.

Todd Asset Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 702,802 shares of the utilities provider's stock after buying an additional 254,171 shares during the period. ONEOK accounts for approximately 1.6% of Todd Asset Management LLC's portfolio, making the stock its 8th largest holding. Todd Asset Management LLC owned approximately 0.11% of ONEOK worth $69,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Brighton Jones LLC increased its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares during the last quarter. FMR LLC increased its position in shares of ONEOK by 4.6% in the fourth quarter. FMR LLC now owns 1,225,282 shares of the utilities provider's stock worth $123,018,000 after purchasing an additional 53,365 shares during the last quarter. FIL Ltd bought a new position in shares of ONEOK in the fourth quarter worth approximately $913,000. Rockefeller Capital Management L.P. increased its position in shares of ONEOK by 3.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 283,470 shares of the utilities provider's stock worth $28,454,000 after purchasing an additional 8,333 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in shares of ONEOK by 1.5% in the fourth quarter. Townsquare Capital LLC now owns 108,914 shares of the utilities provider's stock worth $10,935,000 after purchasing an additional 1,572 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective 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. Citigroup decreased their price objective 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. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.57.

ONEOK Trading Down 0.7%

Shares of NYSE:OKE traded down $0.53 during trading on Thursday, reaching $74.80. 3,106,860 shares of the company traded hands, compared to its average volume of 3,976,282. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $47.11 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.76 and a beta of 0.99. The business's fifty day moving average is $80.48 and its 200-day moving average is $87.01. ONEOK, Inc. has a 52-week low of $73.02 and a 52-week high of $118.07.

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

ONEOK Announces Dividend

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

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.