ONEOK, Inc. (NYSE:OKE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 22.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,401 shares of the utilities provider's stock after selling 84,415 shares during the quarter. Jennison Associates LLC's holdings in ONEOK were worth $28,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Merit Financial Group LLC grew its holdings in shares of ONEOK by 11.4% in the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after acquiring an additional 1,180 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ONEOK in the fourth quarter worth $19,909,000. Dynamic Technology Lab Private Ltd boosted its position in ONEOK by 41.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock valued at $1,546,000 after purchasing an additional 4,538 shares during the last quarter. Capital Investment Advisors LLC lifted its position in shares of ONEOK by 3.9% in the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after buying an additional 10,957 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of ONEOK by 146.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after buying an additional 10,728 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKE. Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Barclays cut their target price 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 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.53.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.00 on Tuesday, reaching $80.38. The company's stock had a trading volume of 1,447,263 shares, compared to its average volume of 3,485,108. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a market cap of $50.60 billion, a P/E ratio of 15.68, a PEG ratio of 1.94 and a beta of 0.93. The company has a 50-day simple moving average of $81.97 and a 200 day simple moving average of $90.06. 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 (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 analysts' expectations of $8.23 billion. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is 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.