Oppenheimer Asset Management Inc. Grows Position in ONEOK, Inc. (NYSE:OKE)

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

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after buying an additional 357,015 shares in the last quarter. Northern Trust Corp lifted its position in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after buying an additional 864,392 shares in the last quarter. Finally, Norges Bank purchased a new position in ONEOK during the fourth quarter worth approximately $539,554,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE:OKE traded down $0.05 during mid-day trading on Friday, reaching $81.27. 3,206,043 shares of the stock were exchanged, compared to its average volume of 3,426,515. The company has a 50 day simple moving average of $82.57 and a 200-day simple moving average of $92.13. The stock has a market capitalization of $51.16 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.59 and a beta of 0.94. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07.

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

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OKE shares. 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. Barclays reduced their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Scotiabank reduced their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus reduced their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Six research 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $104.67.

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.