Retirement Planning Co of New England Inc. Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Retirement Planning Co of New England Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 187.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,483 shares of the utilities provider's stock after acquiring an additional 4,231 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in ONEOK were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp raised its stake in shares of 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 during the last quarter. Norges Bank acquired a new stake in shares of ONEOK during the fourth quarter worth about $539,554,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ONEOK by 2.6% during 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 during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Up 2.6%

Shares of OKE stock opened at $81.24 on Friday. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week 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's fifty day moving average is $81.94 and its two-hundred day moving average is $90.33. The firm has a market capitalization of $51.15 billion, a P/E ratio of 15.87, a PEG ratio of 1.53 and a beta of 0.93.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio is currently 80.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company cut their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Barclays lowered their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Scotiabank set a $92.00 price objective on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $103.07.

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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