Nuveen Asset Management LLC Has $395.75 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Nuveen Asset Management LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,941,700 shares of the utilities provider's stock after selling 31,207 shares during the period. Nuveen Asset Management LLC owned about 0.67% of ONEOK worth $395,747,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP boosted its position in shares of ONEOK by 313.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 38,848 shares of the utilities provider's stock worth $3,900,000 after purchasing an additional 29,443 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in ONEOK by 20.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 24,394 shares of the utilities provider's stock valued at $2,449,000 after acquiring an additional 4,170 shares during the last quarter. McGowan Group Asset Management Inc. acquired a new stake in ONEOK during the 4th quarter worth approximately $212,000. Meketa Capital LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $448,000. Finally, Morse Asset Management Inc grew its holdings in ONEOK by 17.1% in the fourth quarter. Morse Asset Management Inc now owns 4,450 shares of the utilities provider's stock worth $447,000 after purchasing an additional 650 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

OKE stock traded down $1.08 during trading hours on Tuesday, hitting $83.66. 624,171 shares of the stock traded hands, compared to its average volume of 3,254,072. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a market cap of $52.25 billion, a P/E ratio of 17.50, a P/E/G 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 stock has a 50-day simple moving average of $88.43 and a 200 day simple moving average of $97.65.

ONEOK (NYSE:OKE - Get Free Report) last released its 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). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the business posted $1.09 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid 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 4.92%. ONEOK's dividend payout ratio is currently 80.47%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Stifel Nicolaus cut 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. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Citigroup cut their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Six equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.69.

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.