Gotham Asset Management LLC Purchases 115,743 Shares of ONEOK, Inc. (NYSE:OKE)

Gotham Asset Management LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 186.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,819 shares of the utilities provider’s stock after buying an additional 115,743 shares during the period. Gotham Asset Management LLC’s holdings in ONEOK were worth $17,853,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter worth about $32,000. Ground Swell Capital LLC bought a new stake in ONEOK during the fourth quarter worth approximately $237,000. Ensign Peak Advisors Inc raised its position in ONEOK by 6.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider’s stock valued at $34,184,000 after purchasing an additional 19,199 shares during the period. Ethic Inc. boosted its holdings in shares of ONEOK by 22.1% in the 4th quarter. Ethic Inc. now owns 126,837 shares of the utilities provider’s stock worth $12,734,000 after purchasing an additional 22,951 shares during the period. Finally, FORA Capital LLC increased its position in shares of ONEOK by 1.4% during the 4th quarter. FORA Capital LLC now owns 19,185 shares of the utilities provider’s stock valued at $1,926,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $82.33 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $51.43 billion, a P/E ratio of 17.22, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company’s fifty day moving average is $89.10 and its two-hundred day moving average is $98.06.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the business earned $1.09 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed 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 5.00%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.