Ethic Inc. Has $12.73 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Ethic Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,837 shares of the utilities provider's stock after purchasing an additional 22,951 shares during the period. Ethic Inc.'s holdings in ONEOK were worth $12,734,000 as of its most recent SEC filing.

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

ONEOK Stock Performance

NYSE OKE traded up $0.08 on Friday, hitting $82.33. The stock had a trading volume of 2,884,754 shares, compared to its average volume of 3,248,639. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company's 50-day moving average is $89.10 and its two-hundred day moving average is $98.07. 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 stock has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates 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 firm earned $1.09 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Scotiabank cut 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. Finally, Barclays cut 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. Seven 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.