Victory Capital Management Inc. Trims Stake in ONEOK, Inc. (NYSE:OKE)

Victory Capital Management Inc. lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 470,587 shares of the utilities provider's stock after selling 38,729 shares during the period. Victory Capital Management Inc. owned 0.08% of ONEOK worth $46,692,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter worth $539,554,000. Wellington Management Group LLP lifted its holdings 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 lifted its holdings 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 bought a new position in ONEOK in the fourth quarter valued at about $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in ONEOK by 445.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock valued at $153,319,000 after acquiring an additional 1,246,963 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.91 during trading on Wednesday, hitting $81.65. 2,657,456 shares of the company's stock were exchanged, compared to its average volume of 3,494,495. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The business's 50-day simple moving average is $81.66 and its 200 day simple moving average is $89.78. The company has a market cap of $51.40 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.88 and a beta of 0.93.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is 80.47%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKE. Citigroup lowered 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. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Barclays cut their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Finally, Raymond James Financial cut their price target on ONEOK from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday. Six equities research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.53.

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.