ONEOK, Inc. (NYSE:OKE) Shares Bought by LifeWealth Investments LLC

LifeWealth Investments LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 36.6% during the first quarter, HoldingsChannel reports. The firm owned 4,736 shares of the utilities provider’s stock after purchasing an additional 1,269 shares during the quarter. LifeWealth Investments LLC’s holdings in ONEOK were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of ONEOK in the 4th quarter valued at $539,554,000. Wellington Management Group LLP grew its stake in ONEOK by 433.4% during the 4th 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. Price T Rowe Associates Inc. MD increased its holdings in shares of ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the period. Raymond James Financial Inc. purchased a new position in shares of ONEOK in the fourth quarter worth about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK during the fourth quarter worth about $177,045,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $81.35 on Wednesday. The firm has a market cap of $51.21 billion, a PE ratio of 15.89, a P/E/G ratio of 1.61 and a beta of 0.94. 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 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $83.07 and a 200 day moving average price of $93.71.

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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the firm earned $1.09 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is presently 80.47%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays reduced their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Citigroup lowered their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Six equities research 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 stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

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.