Wellington Management Group LLP Buys 2,182,081 Shares of ONEOK, Inc. $OKE

Key Points

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Wellington Management Group LLP raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 51.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,388,987 shares of the utilities provider's stock after purchasing an additional 2,182,081 shares during the quarter. Wellington Management Group LLP owned 1.02% of ONEOK worth $633,915,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Marcum Wealth LLC boosted its position in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after buying an additional 108 shares during the last quarter. West Paces Advisors Inc. lifted its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 114 shares during the period. Morey & Quinn Wealth Partners LLC boosted its holdings in shares of ONEOK by 0.8% in 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 acquiring an additional 130 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in shares of ONEOK by 0.3% in the fourth quarter. Uniplan Investment Counsel Inc. now owns 50,970 shares of the utilities provider's stock worth $5,117,000 after acquiring an additional 132 shares during the period. Finally, Visionary Wealth Advisors increased its stake in shares of ONEOK by 2.1% in the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider's stock worth $635,000 after acquiring an additional 132 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKE shares. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Barclays set a $83.00 price objective on ONEOK in a report on Thursday. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $103.57.

ONEOK Stock Performance

Shares of OKE stock opened at $73.04 on Tuesday. The company has a market capitalization of $46.00 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.75 and a beta of 0.99. The business's 50 day moving average is $80.04 and its two-hundred day moving average is $86.29. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 12-month low of $72.75 and a 12-month high of $118.07.

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

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. ONEOK's dividend payout ratio is currently 80.31%.

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.

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