Platform Technology Partners Buys New Shares in ONEOK, Inc. (NYSE:OKE)

Platform Technology Partners bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,799 shares of the utilities provider's stock, valued at approximately $873,000.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 558,789 shares in the last quarter. Geode Capital Management LLC raised its position in ONEOK by 2.6% in 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 purchasing an additional 357,015 shares in the last quarter. Northern Trust Corp raised its position in ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after purchasing an additional 864,392 shares in the last quarter. Norges Bank acquired a new position in ONEOK in the fourth quarter worth about $539,554,000. Finally, Bank of New York Mellon Corp raised its position in ONEOK by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock worth $469,038,000 after purchasing an additional 117,901 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. Scotiabank dropped 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. Barclays dropped their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, 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 report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $103.14.

ONEOK Stock Performance

Shares of ONEOK stock opened at $81.38 on Friday. 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 firm has a market cap of $51.23 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.54 and a beta of 0.93. The firm has a 50 day simple moving average of $81.94 and a 200 day simple moving average of $90.90. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.06%. ONEOK's payout ratio is presently 80.47%.

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.

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