Parvin Asset Management LLC Acquires Shares of 1,011 ONEOK, Inc. (NYSE:OKE)

Parvin Asset Management LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,011 shares of the utilities provider’s stock, valued at approximately $102,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in ONEOK by 0.8% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. increased its position 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 in the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 357,015 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock worth $656,200,000 after buying an additional 864,392 shares in the last quarter. Finally, Norges Bank acquired a new stake in ONEOK in the 4th quarter valued at $539,554,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $82.10 on Thursday. The company has a fifty day moving average of $91.28 and a 200-day moving average of $98.80. ONEOK, Inc. has a twelve month low of $75.48 and a twelve 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 firm has a market capitalization of $51.28 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Monday, May 5th. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OKE shares. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Scotiabank cut their price target on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday. 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 report on Monday, February 10th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.25.

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.