ONEOK, Inc. (NYSE:OKE) Shares Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 30.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,368 shares of the utilities provider’s stock after acquiring an additional 1,021 shares during the quarter. Keudell Morrison Wealth Management’s holdings in ONEOK were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after purchasing an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares during the period. Geode Capital Management LLC lifted its stake in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares in the last quarter. Northern Trust Corp boosted its holdings in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after acquiring an additional 864,392 shares during the period. Finally, Norges Bank purchased a new stake in ONEOK during the fourth quarter worth about $539,554,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 2.9%

NYSE OKE opened at $79.96 on Tuesday. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a 50-day moving average of $82.93 and a 200-day moving average of $92.79. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The company has a market cap of $50.34 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The company 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 company earned $1.09 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is currently 80.47%.

Analysts Set New Price Targets

A number of brokerages have issued reports on OKE. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Scotiabank cut their target price on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $103.69.

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.