North Capital Inc. Acquires New Shares in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

North Capital Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE – Free Report) during the 1st quarter, Holdings Channel reports. The fund acquired 481 shares of the utilities provider’s stock, valued at approximately $48,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in ONEOK by 0.8% in 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 in the last quarter. Geode Capital Management LLC raised its position in ONEOK by 2.6% in 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 purchasing an additional 357,015 shares during the last quarter. Northern Trust Corp raised its position in ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after purchasing an additional 864,392 shares during the last quarter. Norges Bank bought a new position in ONEOK in the fourth quarter valued at about $539,554,000. Finally, Wellington Management Group LLP raised its position in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 0.5%

NYSE OKE opened at $81.73 on Friday. The business has a 50 day simple moving average of $82.36 and a 200 day simple moving average of $91.68. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The stock has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.61 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

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 the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.09 EPS. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.04%. ONEOK’s dividend payout ratio is currently 80.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OKE shares. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Citigroup dropped their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Scotiabank lowered their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Six 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.08.

View Our Latest Analysis on ONEOK

About ONEOK

(Free Report)

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.

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