Transce3nd LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Transce3nd LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,138 shares of the utilities provider's stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in ONEOK by 0.8% during 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 buying an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ONEOK by 2.6% during 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 during the last quarter. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter valued at about $539,554,000. Finally, Wellington Management Group LLP grew its position in shares of ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after buying an additional 3,418,207 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.08 during midday trading on Friday, reaching $86.36. The company's stock had a trading volume of 908,083 shares, compared to its average volume of 3,168,807. 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 fifty day moving average of $92.28 and a 200 day moving average of $99.04. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The firm has a market capitalization of $53.94 billion, a PE ratio of 18.07, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed 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 4.77%. ONEOK's dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 target price for the company. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.42.

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.