ONEOK, Inc. (NYSE:OKE) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,551,655 shares of the utilities provider's stock after purchasing an additional 7,447 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of ONEOK worth $153,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mindset Wealth Management LLC raised its position in shares of ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after buying an additional 106 shares during the period. Marcum Wealth LLC increased its stake in ONEOK by 1.1% during the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after acquiring an additional 108 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of ONEOK by 1.9% in the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock worth $590,000 after purchasing an additional 112 shares during the period. West Paces Advisors Inc. lifted its stake in shares of ONEOK by 4.7% in the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after purchasing an additional 114 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC grew its holdings in shares of ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Down 0.1%

Shares of NYSE OKE opened at $81.27 on Friday. 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 1 year low of $75.48 and a 1 year high of $118.07. The stock's 50-day simple moving average is $82.57 and its 200-day simple moving average is $92.22. The firm has a market cap of $51.16 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.59 and a beta of 0.94.

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

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Scotiabank decreased their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. Finally, Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.67.

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.

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