Mercer Global Advisors Inc. ADV Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Mercer Global Advisors Inc. ADV reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,172 shares of the utilities provider's stock after selling 6,791 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in ONEOK were worth $7,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. Westbourne Investments Inc. bought a new position in ONEOK in the 4th quarter worth about $240,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in ONEOK by 3,784.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 183,379 shares of the utilities provider's stock valued at $18,411,000 after purchasing an additional 178,658 shares during the period. Parvin Asset Management LLC bought a new position in shares of ONEOK in the fourth quarter worth $102,000. Headland Capital LLC purchased a new position in ONEOK during the fourth quarter worth about $263,000. Finally, Navigoe LLC bought a new position in ONEOK in the 4th quarter worth about $72,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE traded up $0.93 during trading hours on Wednesday, reaching $80.22. The company had a trading volume of 3,285,081 shares, compared to its average volume of 3,224,224. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 3.77 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm's 50 day moving average price is $90.02 and its 200-day moving average price is $98.38. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

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). The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company earned $1.09 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.14%. The ex-dividend date is Monday, May 5th. ONEOK's payout ratio is 80.47%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKE. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Citigroup reduced their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Scotiabank cut their target price on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $105.00.

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.