Zurcher Kantonalbank Zurich Cantonalbank Purchases 42,263 Shares of ONEOK, Inc. (NYSE:OKE)

Key Points

• Zurcher Kantonalbank increased its holdings in ONEOK, Inc. by 16.7% during the 1st quarter, bringing its total shares to 295,207 worth approximately $29.29 million.
• Multiple large investors, including Brighton Jones LLC and New Age Alpha Advisors LLC, significantly grew their stakes in ONEOK during the previous quarter, indicating increasing institutional interest in the company.
• ONEOK has recently declared a quarterly dividend of $1.03 per share, representing an annualized yield of 5.05% and a payout ratio of 80.47%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,207 shares of the utilities provider's stock after buying an additional 42,263 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ONEOK were worth $29,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC grew its stake in ONEOK by 11.4% in the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock valued at $1,142,000 after buying an additional 1,180 shares during the last quarter. Cinctive Capital Management LP acquired a new position in ONEOK in the 4th quarter valued at $19,909,000. Dynamic Technology Lab Private Ltd grew its stake in ONEOK by 41.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock valued at $1,546,000 after buying an additional 4,538 shares during the last quarter. Capital Investment Advisors LLC grew its stake in ONEOK by 3.9% in the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after buying an additional 10,957 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on OKE. Raymond James Financial decreased their price target on shares of ONEOK from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.86.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.30 during midday trading on Thursday, reaching $82.49. 900,883 shares of the company's stock were exchanged, compared to its average volume of 3,939,622. The company's 50 day simple moving average is $81.45 and its two-hundred day simple moving average is $89.10. The firm has a market capitalization of $51.93 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. ONEOK, Inc. has a 12 month low of $75.47 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly 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 net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. Equities 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 declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio is currently 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.