Rhumbline Advisers Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Rhumbline Advisers increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,238,477 shares of the utilities provider's stock after acquiring an additional 114,416 shares during the period. Rhumbline Advisers owned about 0.20% of ONEOK worth $122,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the period. Geode Capital Management LLC increased its stake 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 worth $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp increased 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 period. Finally, Norges Bank acquired a new stake in ONEOK during the fourth quarter worth about $539,554,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OKE shares. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Monday, February 10th. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Scotiabank dropped their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday. Barclays reduced 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. Finally, Citigroup reduced their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average price target of $103.69.

ONEOK Price Performance

Shares of NYSE OKE traded up $0.58 during mid-day trading on Thursday, reaching $81.10. 5,370,772 shares of the company were exchanged, compared to its average volume of 3,334,470. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $50.66 billion, a PE ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. The company's 50 day moving average price is $83.85 and its 200 day moving average price is $95.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 5.08%. ONEOK's dividend payout ratio is presently 80.47%.

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.