ONEOK, Inc. (NYSE:OKE) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,120,264 shares of the utilities provider’s stock after purchasing an additional 558,789 shares during the quarter. Vanguard Group Inc. owned about 12.00% of ONEOK worth $7,040,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stevens Capital Management LP acquired a new stake in ONEOK in the 4th quarter valued at approximately $661,000. LPL Financial LLC increased its position in ONEOK by 3.2% in the 4th quarter. LPL Financial LLC now owns 1,286,993 shares of the utilities provider’s stock valued at $129,214,000 after acquiring an additional 39,351 shares during the period. Fox Run Management L.L.C. acquired a new stake in ONEOK in the 4th quarter valued at approximately $686,000. KLP Kapitalforvaltning AS acquired a new stake in ONEOK in the 4th quarter valued at approximately $22,474,000. Finally, AXQ Capital LP acquired a new stake in ONEOK in the 4th quarter valued at approximately $446,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock opened at $99.45 on Monday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. 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 $62.09 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business has a fifty day simple moving average of $98.94 and a 200-day simple moving average of $99.92.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. ONEOK’s payout ratio is currently 79.69%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OKE shares. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Scotiabank decreased their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Seven research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

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.