ONEOK, Inc. (NYSE:OKE) Shares Purchased by Reaves W H & Co. Inc.

Key Points

• Reaves W H & Co. Inc. increased its stake in ONEOK, Inc. by 17.5%, owning 346,239 shares valued at approximately $34.35 million after acquiring an additional 51,615 shares in the 1st quarter.
• ONEOK recently reported earnings of $1.34 per share, exceeding analysts' expectations of $1.33, with quarterly revenue reaching $8.21 billion against a forecast of $7.20 billion.
• The company announced a quarterly dividend of $1.03, creating a yield of 5.2%, with a dividend payout ratio currently at 80.47%.

Reaves W H & Co. Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 346,239 shares of the utilities provider's stock after acquiring an additional 51,615 shares during the period. Reaves W H & Co. Inc. owned about 0.06% of ONEOK worth $34,354,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC lifted 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 buying an additional 1,180 shares during the period. Capital Investment Advisors LLC raised its holdings 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 valued at $28,774,000 after acquiring an additional 10,957 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in 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 acquiring an additional 10,728 shares during the period. Ensign Peak Advisors Inc grew its holdings in ONEOK by 6.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock worth $34,184,000 after acquiring an additional 19,199 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in shares of ONEOK in the 1st quarter valued at about $511,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

OKE traded down $0.95 during trading on Friday, reaching $74.53. 3,159,225 shares of the company's stock were exchanged, compared to its average volume of 3,989,583. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.52. ONEOK, Inc. has a 1 year low of $74.23 and a 1 year high of $118.07. The company's fifty day simple moving average is $81.07 and its 200-day simple moving average is $87.89. The stock has a market capitalization of $46.92 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.33 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKE. JPMorgan Chase & Co. boosted 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. Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Royal Bank Of Canada decreased their price target on shares of ONEOK from $100.00 to $94.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Finally, TD Cowen assumed coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.57.

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.