2,116 Shares in ONEOK, Inc. (NYSE:OKE) Bought by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,116 shares of the utilities provider’s stock, valued at approximately $212,000.

A number of other large investors have also made changes to their positions in OKE. Norges Bank purchased a new position in shares of ONEOK during the 4th quarter worth $539,554,000. Wellington Management Group LLP lifted its stake in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after acquiring an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $280,194,000 after buying an additional 1,971,147 shares during the last quarter. Raymond James Financial Inc. acquired a new position in ONEOK in the fourth quarter worth about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK during the 4th quarter valued at approximately $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 $84.95 on Tuesday. 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 cap of $53.06 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company’s fifty day simple moving average is $88.96 and its two-hundred day simple moving average is $97.98.

ONEOK (NYSE:OKE) last released its earnings results 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 4.85%. ONEOK’s dividend payout ratio is presently 80.47%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Wells Fargo & Company lowered their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Seven 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. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.