Woodline Partners LP Acquires Shares of 35,083 ONEOK, Inc. (NYSE:OKE)

Woodline Partners LP purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,083 shares of the utilities provider's stock, valued at approximately $3,522,000.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of ONEOK during the 4th quarter valued at about $539,554,000. Wellington Management Group LLP lifted its position in shares of ONEOK by 433.4% during 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ONEOK during the 4th quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd purchased a new position in shares of ONEOK during the 4th quarter valued at about $177,045,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OKE. Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.69.

ONEOK Price Performance

Shares of OKE traded down $0.80 during mid-day trading on Friday, hitting $79.88. 886,085 shares of the stock were exchanged, compared to its average volume of 3,278,350. The company has a market cap of $49.90 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The firm has a 50-day moving average of $85.69 and a two-hundred day moving average of $96.54. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the previous year, the company posted $1.09 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.16%. ONEOK's payout ratio is presently 80.47%.

ONEOK 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.