Westwood Holdings Group Inc. Has $179.23 Million Position in ONEOK, Inc. (NYSE:OKE)

Westwood Holdings Group Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,785,160 shares of the utilities provider's stock after purchasing an additional 126,813 shares during the period. ONEOK comprises about 1.4% of Westwood Holdings Group Inc.'s portfolio, making the stock its 7th biggest position. Westwood Holdings Group Inc. owned about 0.31% of ONEOK worth $179,230,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in ONEOK during the 4th quarter worth about $539,554,000. Wellington Management Group LLP increased its holdings 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 acquiring an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in ONEOK by 240.5% during the 4th 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 purchasing an additional 1,971,147 shares during the period. Raymond James Financial Inc. bought a new position in shares of ONEOK in the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd bought a new position in ONEOK during the fourth quarter valued at about $177,045,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.6%

ONEOK stock traded down $0.47 during midday trading on Thursday, reaching $81.36. The company's stock had a trading volume of 2,557,956 shares, compared to its average volume of 3,275,095. The business has a 50-day simple moving average of $87.94 and a 200-day simple moving average of $97.44. The company has a market cap of $50.82 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 80.47%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OKE. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Scotiabank cut their price objective on ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a report on Tuesday. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Finally, US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $104.69.

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.