AQR Capital Management LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

AQR Capital Management LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,104 shares of the utilities provider's stock after acquiring an additional 15,135 shares during the period. AQR Capital Management LLC's holdings in ONEOK were worth $9,548,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after acquiring an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after buying an additional 357,015 shares in the last quarter. Northern Trust Corp raised its stake in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of ONEOK during the 4th quarter valued at approximately $539,554,000. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. Wells Fargo & Company cut their target price 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. Scotiabank reduced their price objective on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 29th. Barclays cut 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 report on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Finally, Stifel Nicolaus cut their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

ONEOK Stock Up 3.4%

Shares of NYSE:OKE traded up $2.82 during trading on Monday, reaching $85.12. 707,319 shares of the stock were exchanged, compared to its average volume of 3,239,522. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The stock has a fifty day moving average of $89.10 and a two-hundred day moving average of $98.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $53.17 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $1.09 EPS. Research analysts anticipate 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, May 15th. Investors of record on Monday, May 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's 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.