Quotient Wealth Partners LLC Purchases Shares of 14,298 ONEOK, Inc. (NYSE:OKE)

Quotient Wealth Partners LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,298 shares of the utilities provider's stock, valued at approximately $1,004,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider's stock valued at $3,757,405,000 after acquiring an additional 5,525,010 shares in the last quarter. Deutsche Bank AG raised its position in shares of ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider's stock worth $843,133,000 after acquiring an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider's stock valued at $871,341,000 after acquiring an additional 2,153,295 shares during the last quarter. Morgan Stanley raised its holdings in ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider's stock worth $549,305,000 after purchasing an additional 1,458,392 shares during the period. Finally, Invesco Ltd. grew its stake in ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider's stock valued at $515,832,000 after acquiring an additional 3,229,046 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE:OKE traded up $1.08 on Tuesday, reaching $81.68. 2,351,943 shares of the company's stock traded hands, compared to its average volume of 2,936,769. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $47.67 billion, a PE ratio of 18.99, a P/E/G ratio of 4.29 and a beta of 1.64. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. The stock has a 50-day simple moving average of $78.89 and a 200-day simple moving average of $72.56.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK's dividend payout ratio is presently 92.09%.

ONEOK announced that its board has approved a share repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have commented on OKE shares. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, May 2nd. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a "neutral" rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Finally, Morgan Stanley boosted their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of "Hold" and a consensus target price of $83.58.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

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.