ONEOK, Inc. (NYSE:OKE) Shares Purchased by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in ONEOK, Inc. by 6.1%, owning 1,750,953 shares valued at approximately $173.73 million.
• Recent research reports indicate a consensus rating of "Moderate Buy" for ONEOK, with a price target averaging $104.57.
• ONEOK recently declared a quarterly dividend of $1.03 per share, reflecting an annualized yield of 5.5% and a dividend payout ratio of 80.31%.

Swiss National Bank increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,750,953 shares of the utilities provider's stock after buying an additional 101,065 shares during the period. Swiss National Bank owned about 0.28% of ONEOK worth $173,730,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OKE. Brighton Jones LLC raised its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. FMR LLC increased its position in ONEOK by 4.6% during the fourth quarter. FMR LLC now owns 1,225,282 shares of the utilities provider's stock worth $123,018,000 after purchasing an additional 53,365 shares during the last quarter. FIL Ltd acquired a new position in ONEOK during the fourth quarter worth approximately $913,000. Advisory Services Network LLC increased its position in ONEOK by 6.7% during the fourth quarter. Advisory Services Network LLC now owns 27,790 shares of the utilities provider's stock worth $2,790,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in ONEOK by 12.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 2,713 shares of the utilities provider's stock worth $272,000 after purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on OKE. Stifel Nicolaus dropped their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $100.00 to $94.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Wells Fargo & Company decreased their target price 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. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average price target of $104.57.

ONEOK Stock Performance

Shares of OKE stock traded down $0.79 during trading hours on Monday, reaching $73.68. The stock had a trading volume of 3,679,898 shares, compared to its average volume of 3,661,766. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a twelve month low of $73.51 and a twelve month high of $118.07. The firm has a 50-day simple moving average of $80.95 and a 200-day simple moving average of $87.39. The firm has a market capitalization of $46.40 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the company earned $1.33 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

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.