14,704 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd bought a new position in shares of ONEOK, Inc. (NYSE:OKEFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,704 shares of the utilities provider’s stock, valued at approximately $1,170,000.

A number of other hedge funds have also bought and sold shares of OKE. Rise Advisors LLC bought a new stake in ONEOK in the first quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK during the first quarter worth about $26,000. American National Bank bought a new stake in shares of ONEOK during the first quarter worth about $32,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the fourth quarter worth about $32,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKE. Morgan Stanley boosted their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Wells Fargo & Company boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average price target of $84.50.

Get Our Latest Research Report on ONEOK

ONEOK Stock Performance

OKE traded down $0.10 during midday trading on Wednesday, reaching $82.32. The company had a trading volume of 1,395,251 shares, compared to its average volume of 2,784,362. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market cap of $48.05 billion, a PE ratio of 19.06, a P/E/G ratio of 4.39 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $83.31. The business has a 50-day moving average price of $80.39 and a two-hundred day moving average price of $76.54.

ONEOK (NYSE:OKEGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the company earned $2.34 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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