Premier Fund Managers Ltd Buys 3,500 Shares of ONEOK, Inc. (NYSE:OKE)

Key Points

• Premier Fund Managers Ltd increased its stake in ONEOK, Inc. by 4.3%, resulting in ownership of 85,750 shares valued at $8.44 million as of the end of the first quarter.
• ONEOK reported earnings per share (EPS) of $1.04 for the most recent quarter, falling short of estimates by $0.24
• The company announced a quarterly dividend of $1.03, providing a 5.03% dividend yield, with a payout ratio of 80.47%.

Premier Fund Managers Ltd grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,750 shares of the utilities provider's stock after purchasing an additional 3,500 shares during the quarter. Premier Fund Managers Ltd's holdings in ONEOK were worth $8,442,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenline Partners LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $32,000. First Pacific Financial acquired a new stake in ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK during the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ONEOK during the first quarter worth about $39,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE:OKE traded down $2.05 during trading on Friday, reaching $79.03. The stock had a trading volume of 2,586,068 shares, compared to its average volume of 3,952,059. ONEOK, Inc. has a 52 week low of $75.47 and a 52 week high of $118.07. The business's 50-day moving average price is $81.46 and its 200 day moving average price is $88.95. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market capitalization of $49.75 billion, a PE ratio of 15.46, a P/E/G ratio of 1.95 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last posted its 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 net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm posted $1.09 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is 80.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.57.

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.