WESPAC Advisors LLC Acquires 6,131 Shares of ONEOK, Inc. (NYSE:OKE)

WESPAC Advisors LLC raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 49.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,441 shares of the utilities provider's stock after acquiring an additional 6,131 shares during the quarter. ONEOK makes up approximately 1.5% of WESPAC Advisors LLC's portfolio, making the stock its 8th biggest position. WESPAC Advisors LLC's holdings in ONEOK were worth $1,830,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of ONEOK in the 4th quarter valued at about $539,554,000. Wellington Management Group LLP boosted its stake in shares of ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after buying an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 1,971,147 shares during the last quarter. ClearBridge Investments Ltd purchased a new stake in ONEOK during the fourth quarter worth approximately $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock worth $153,319,000 after purchasing an additional 1,246,963 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OKE shares. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays decreased their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. TD Cowen started coverage on ONEOK in a research note on Monday. They set a "hold" rating and a $91.00 target price for the company. JPMorgan Chase & Co. boosted their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.14.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.47 during trading on Friday, reaching $81.38. The company had a trading volume of 2,315,889 shares, compared to its average volume of 3,475,671. The firm has a market capitalization of $51.23 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock's fifty day moving average price is $81.97 and its 200 day moving average price is $91.05. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

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). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the previous year, the firm posted $1.09 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 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.