Tranquility Partners LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Tranquility Partners LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 50.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,583 shares of the utilities provider's stock after purchasing an additional 5,917 shares during the quarter. Tranquility Partners LLC's holdings in ONEOK were worth $1,745,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $539,554,000. Wellington Management Group LLP lifted its position in 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 buying an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ONEOK by 240.5% during 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 buying an additional 1,971,147 shares during the period. Raymond James Financial Inc. purchased a new position in ONEOK during the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in shares of ONEOK in the fourth quarter valued at $177,045,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 1.4%

OKE opened at $81.30 on Friday. 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 stock's fifty day moving average is $82.67 and its two-hundred day moving average is $92.46. The company has a market capitalization of $51.18 billion, a P/E ratio of 15.88, a PEG ratio of 1.57 and a beta of 0.94. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly 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 firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the prior year, the business posted $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.07%. ONEOK's dividend payout ratio is currently 80.47%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OKE shares. Barclays lowered their target price on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus decreased their price objective 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. Scotiabank dropped their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. Citigroup reduced their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.67.

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.

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.