Jennison Associates LLC Reduces Position in ONEOK, Inc. (NYSE:OKE)

Jennison Associates LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 284,401 shares of the utilities provider's stock after selling 84,415 shares during the period. Jennison Associates LLC's holdings in ONEOK were worth $28,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Proficio Capital Partners LLC bought a new position in ONEOK in the 4th quarter valued at approximately $258,000. Envestnet Portfolio Solutions Inc. lifted its position in ONEOK by 5.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,497 shares of the utilities provider's stock valued at $753,000 after acquiring an additional 374 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of ONEOK during the 4th quarter valued at $115,000. Finally, Atlas Wealth LLC bought a new position in shares of ONEOK during the 4th quarter valued at $270,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKE. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Barclays decreased their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. Finally, Raymond James Financial decreased their target price on ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and an average target price of $103.53.

ONEOK Stock Up 0.3%

NYSE:OKE traded up $0.26 during trading hours on Wednesday, reaching $81.00. The company's stock had a trading volume of 624,542 shares, compared to its average volume of 3,481,964. The company has a market capitalization of $50.99 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.88 and a beta of 0.93. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The stock has a 50 day moving average price of $81.97 and a two-hundred day moving average price of $90.06.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 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 business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm earned $1.09 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.09%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio is currently 80.47%.

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.