Meketa Capital LLC Invests $448,000 in ONEOK, Inc. (NYSE:OKE)

Meketa Capital LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,459 shares of the utilities provider's stock, valued at approximately $448,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in ONEOK in the fourth quarter valued at $539,554,000. Wellington Management Group LLP raised its stake in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after buying an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ONEOK by 240.5% in 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 buying an additional 1,971,147 shares during the period. Raymond James Financial Inc. bought a new stake in ONEOK during the 4th quarter valued at approximately $182,694,000. Finally, ClearBridge Investments Ltd bought a new position in shares of ONEOK in the 4th quarter worth approximately $177,045,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

OKE has been the topic of several recent research reports. Morgan Stanley upped 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. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Price Performance

NYSE OKE opened at $84.95 on Tuesday. The company has a 50-day moving average price of $88.96 and a 200-day moving average price of $97.98. ONEOK, Inc. has a 52 week low of $75.48 and a 52 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. The firm has a market capitalization of $53.06 billion, a P/E ratio of 17.77, a PEG ratio of 3.77 and a beta of 1.01.

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 return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.85%. ONEOK's dividend payout ratio (DPR) 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.

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