Oppenheimer Asset Management Inc. Purchases 3,638 Shares of ONEOK, Inc. (NYSE:OKE)

Oppenheimer Asset Management Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,556 shares of the utilities provider's stock after purchasing an additional 3,638 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in ONEOK were worth $3,826,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OKE. LaFleur & Godfrey LLC bought a new position in shares of ONEOK in the 4th quarter worth $931,000. Brighton Jones LLC grew its position in 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 acquiring an additional 8,834 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in ONEOK by 5.0% in the fourth quarter. Crestwood Advisors Group LLC now owns 8,050 shares of the utilities provider's stock valued at $808,000 after acquiring an additional 380 shares during the last quarter. Los Angeles Capital Management LLC raised its position in ONEOK by 39.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 51,815 shares of the utilities provider's stock valued at $5,202,000 after purchasing an additional 14,557 shares in the last quarter. Finally, FFT Wealth Management LLC lifted its stake in ONEOK by 1.1% during the fourth quarter. FFT Wealth Management LLC now owns 30,584 shares of the utilities provider's stock worth $3,071,000 after purchasing an additional 334 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.7%

Shares of ONEOK stock traded up $0.59 during trading on Friday, reaching $81.91. 423,143 shares of the stock were exchanged, compared to its average volume of 4,085,783. 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 firm has a market cap of $51.56 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. ONEOK, Inc. has a 1 year low of $75.47 and a 1 year high of $118.07. The stock's fifty day moving average is $82.67 and its 200 day moving average is $92.46.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Scotiabank decreased 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 note on Thursday, June 5th. Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Stifel Nicolaus reduced their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Barclays lowered their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.67.

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.