Xponance Inc. Acquires 6,329 Shares of ONEOK, Inc. (NYSE:OKE)

Xponance Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,965 shares of the utilities provider's stock after purchasing an additional 6,329 shares during the period. Xponance Inc.'s holdings in ONEOK were worth $8,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenline Partners LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $32,000. First Pacific Financial bought a new position in shares of ONEOK during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK in the fourth quarter valued at approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ONEOK in the first quarter valued at approximately $39,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.6%

Shares of ONEOK stock opened at $81.38 on Friday. 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 firm has a fifty day moving average price of $81.94 and a 200 day moving average price of $90.90. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The stock has a market cap of $51.23 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same period last year, the business earned $1.09 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced 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 was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.06%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Ratings Changes

Several brokerages have weighed in on OKE. Wells Fargo & Company lowered their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Scotiabank lowered their target price on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Seven equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.14.

About ONEOK

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.