Johnson Investment Counsel Inc. Has $1.39 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Johnson Investment Counsel Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% during the first quarter, Holdings Channel reports. The institutional investor owned 14,054 shares of the utilities provider’s stock after selling 1,605 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of OKE. Norges Bank acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $539,554,000. Wellington Management Group LLP boosted its stake in ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after buying an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ONEOK by 240.5% during 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in ONEOK during the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK during the 4th quarter valued at about $177,045,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $82.25 on Friday. The business’s fifty day moving average is $83.00 and its two-hundred day moving average is $93.22. The firm has a market cap of $51.78 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company earned $1.09 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio is 80.47%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Scotiabank decreased their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Finally, Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.