Northern Trust Corp Acquires 864,392 Shares of ONEOK, Inc. (NYSE:OKE)

Northern Trust Corp raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,535,861 shares of the utilities provider's stock after purchasing an additional 864,392 shares during the period. Northern Trust Corp owned 1.12% of ONEOK worth $656,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in ONEOK in the 4th quarter worth $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the fourth quarter worth $39,000. Canton Hathaway LLC bought a new position in ONEOK during the 4th quarter valued at about $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the 4th quarter worth approximately $48,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $50,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.3 %

ONEOK stock traded up $1.84 during trading hours on Friday, hitting $82.77. The stock had a trading volume of 5,505,793 shares, compared to its average volume of 3,216,069. The stock has a market cap of $51.70 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.77 and a beta of 1.20. 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 business's 50 day simple moving average is $90.67 and its 200-day simple moving average is $98.63. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business 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 period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. 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 note on Friday, March 7th. Scotiabank cut their price objective on shares of 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, Wells Fargo & Company lowered their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company 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.