ONEOK, Inc. (NYSE:OKE) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in ONEOK, Inc. by 7.2%, holding a total of 75,196,969 shares worth approximately $7.46 billion.
• ONEOK recently announced a quarterly dividend of $1.03 per share, with a yield of 5.5% and a payout ratio of 80.47%.
• The company reported EPS of $1.34 for the most recent quarter, surpassing estimates and indicating a strong revenue of $8.21 billion.

Vanguard Group Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,196,969 shares of the utilities provider's stock after buying an additional 5,076,705 shares during the quarter. Vanguard Group Inc. owned about 12.04% of ONEOK worth $7,461,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Marcum Wealth LLC grew its stake in shares of ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after acquiring an additional 108 shares during the period. West Paces Advisors Inc. increased its stake in shares of ONEOK by 4.7% in the fourth quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after purchasing an additional 114 shares in the last quarter. Morey & Quinn Wealth Partners LLC raised its position in shares of ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the period. Uniplan Investment Counsel Inc. boosted its holdings in ONEOK by 0.3% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock worth $5,117,000 after buying an additional 132 shares during the period. Finally, Visionary Wealth Advisors increased its stake in ONEOK by 2.1% in the 4th quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock worth $635,000 after buying an additional 132 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE traded down $0.95 during trading hours on Friday, hitting $74.53. 3,159,225 shares of the company were exchanged, compared to its average volume of 3,619,503. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.52. The company's 50 day moving average price is $80.95 and its 200-day moving average price is $87.65. ONEOK, Inc. has a 52-week low of $74.23 and a 52-week high of $118.07.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.31%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKE. Royal Bank Of Canada decreased their price objective on ONEOK from $100.00 to $94.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Stifel Nicolaus reduced their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays cut their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target on the stock. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.57.

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.