Trilogy Capital Inc. Takes $379,000 Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Trilogy Capital Inc. has acquired a new position in ONEOK, Inc., investing approximately $379,000 in 3,817 shares during the first quarter.
• ONEOK reported a quarterly earnings miss, with an EPS of $1.04, falling short of the expected $1.28, amid revenues of $6.49 billion against an estimated $8.23 billion.
• The company announced a quarterly dividend of $1.03 per share, yielding 5.05%, to be paid on August 14th to shareholders on record as of August 1st.

Trilogy Capital Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,817 shares of the utilities provider's stock, valued at approximately $379,000.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in ONEOK in the fourth quarter valued at approximately $539,554,000. Wellington Management Group LLP grew its stake 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 valued at $422,373,000 after acquiring an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $280,194,000 after acquiring an additional 1,971,147 shares during the period. ClearBridge Investments Ltd acquired a new stake in ONEOK in the fourth quarter valued at approximately $177,045,000. Finally, GAMMA Investing LLC grew its stake in ONEOK by 9,596.3% in the first quarter. GAMMA Investing LLC now owns 1,189,251 shares of the utilities provider's stock valued at $117,997,000 after acquiring an additional 1,176,986 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective for the company. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Barclays dropped their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company dropped 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 research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $104.86.

ONEOK Stock Performance

NYSE:OKE traded down $1.20 during trading hours on Wednesday, reaching $82.27. The stock had a trading volume of 858,281 shares, compared to its average volume of 3,944,183. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The stock has a 50 day simple moving average of $81.44 and a 200 day simple moving average of $89.15. ONEOK, Inc. has a 12-month low of $75.47 and a 12-month high of $118.07. The stock has a market cap of $51.79 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

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.