7,161 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Smith Anglin Financial LLC

Smith Anglin Financial LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,161 shares of the utilities provider's stock, valued at approximately $711,000.

Several other large investors have also recently added to or reduced their stakes in OKE. Norges Bank bought a new position in shares of ONEOK in the fourth quarter worth $539,554,000. Wellington Management Group LLP grew its stake in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ONEOK in the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd bought a new position in shares of ONEOK in the fourth quarter worth $177,045,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Scotiabank decreased their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday. Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday. Citigroup decreased their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

ONEOK Price Performance

NYSE:OKE traded up $0.51 during mid-day trading on Friday, reaching $81.70. 3,617,114 shares of the stock were exchanged, compared to its average volume of 3,338,360. The business has a fifty day moving average price of $83.49 and a 200 day moving average price of $95.37. The firm has a market capitalization of $51.03 billion, a PE ratio of 17.09, a PEG ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

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 analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the business posted $1.09 EPS. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 5.04%. ONEOK's dividend payout ratio is currently 80.47%.

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.