Northern Trust Corp Has $656.20 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Northern Trust Corp boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 15.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,535,861 shares of the utilities provider's stock after buying an additional 864,392 shares during the period. Northern Trust Corp owned approximately 1.12% of ONEOK worth $656,200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Norges Bank acquired a new position in shares of ONEOK during the fourth quarter worth about $539,554,000. Wellington Management Group LLP lifted its position in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after acquiring an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after acquiring an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new stake in ONEOK in the fourth quarter valued at approximately $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $177,045,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE OKE traded up $1.84 during trading hours on Friday, reaching $82.77. The company's stock had a trading volume of 5,505,793 shares, compared to its average volume of 3,212,144. The stock has a market cap of $51.70 billion, a PE ratio of 17.32, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. 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 business has a 50-day simple moving average of $90.93 and a 200 day simple moving average of $98.68.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, May 5th. ONEOK's payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price target for the company. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday. 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 research note on Monday, February 10th. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.62.

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.