1832 Asset Management L.P. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

1832 Asset Management L.P. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,500 shares of the utilities provider’s stock, valued at approximately $2,445,000.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. Rise Advisors LLC bought a new position in ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new position in shares of ONEOK in the 1st quarter worth $26,000. HHM Wealth Advisors LLC purchased a new stake in ONEOK in the fourth quarter worth approximately $32,000. American National Bank purchased a new position in shares of ONEOK during the first quarter worth approximately $32,000. Finally, Security National Bank purchased a new position in ONEOK in the 4th quarter worth $35,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OKE shares. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Mizuho boosted their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.83.

ONEOK Stock Up 0.8 %

NYSE:OKE traded up $0.62 during trading hours on Friday, reaching $82.02. 1,826,761 shares of the company traded hands, compared to its average volume of 2,137,539. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $81.39 and its two-hundred day moving average price is $77.65. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20. The stock has a market capitalization of $47.87 billion, a P/E ratio of 19.07, a P/E/G ratio of 4.34 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. Analysts predict that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

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.