Robertson Stephens Wealth Management LLC Invests $405,000 in ONEOK, Inc. (NYSE:OKE)

Robertson Stephens Wealth Management LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,083 shares of the utilities provider's stock, valued at approximately $405,000.

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC raised its stake in ONEOK by 11.4% during the first 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 last quarter. Cinctive Capital Management LP bought a new position in ONEOK during the fourth quarter worth $19,909,000. Cbre Investment Management Listed Real Assets LLC bought a new position in ONEOK during the fourth quarter worth $34,360,000. Dynamic Technology Lab Private Ltd raised its stake 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 worth $1,546,000 after buying an additional 4,538 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in ONEOK by 3.9% during 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. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 0.4%

NYSE:OKE opened at $81.07 on Thursday. 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 50-day moving average of $83.00 and a 200-day moving average of $93.62. The company has a market cap of $51.04 billion, a PE ratio of 15.83, a PEG ratio of 1.60 and a beta of 0.94. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.09 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is presently 80.47%.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Citigroup lowered 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. Scotiabank decreased 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 note on Thursday, June 5th. Finally, Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.69.

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.

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