Royal Harbor Partners LLC Acquires Shares of 3,345 ONEOK, Inc. (NYSE:OKE)

Royal Harbor Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,345 shares of the utilities provider's stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in ONEOK by 0.8% in the 4th 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after acquiring an additional 357,015 shares during the period. Northern Trust Corp lifted its stake in shares of ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares during the period. Norges Bank purchased a new stake in shares of ONEOK in the fourth quarter valued at about $539,554,000. Finally, Wellington Management Group LLP increased its stake in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after acquiring an additional 3,418,207 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $81.73 on Friday. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company's 50 day simple moving average is $82.36 and its 200 day simple moving average is $91.68. The company has a market capitalization of $51.45 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.61 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67.

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 the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 yield of 5.04%. ONEOK's payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OKE shares. Barclays dropped their target price 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. Wells Fargo & Company dropped their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, Scotiabank cut their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $104.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.