ONEOK, Inc. (NYSE:OKE) Holdings Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,716 shares of the utilities provider's stock after purchasing an additional 6,115 shares during the quarter. State of Alaska Department of Revenue's holdings in ONEOK were worth $7,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Greenline Partners LLC acquired a new position in ONEOK during the 4th quarter valued at about $32,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter worth approximately $40,000. Finally, Rakuten Securities Inc. grew its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock worth $42,000 after buying an additional 254 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

NYSE:OKE traded up $1.08 during trading hours on Friday, reaching $82.25. 7,502,414 shares of the company's stock were exchanged, compared to its average volume of 3,418,885. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $51.78 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The business's 50-day simple moving average is $83.00 and its two-hundred day simple moving average is $93.42.

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 for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company 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 prior year, the business earned $1.09 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS 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 was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. ONEOK's dividend payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKE shares. Scotiabank cut their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Stifel Nicolaus cut their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

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.