Greenline Partners LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Greenline Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 320 shares of the utilities provider’s stock, valued at approximately $32,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares in the last quarter. Northern Trust Corp raised its position in shares of ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after purchasing an additional 864,392 shares during the period. Finally, Norges Bank acquired a new position in ONEOK during the 4th quarter worth $539,554,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut 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. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $82.33 on Friday. The company’s 50 day moving average price is $89.10 and its two-hundred day moving average price is $98.06. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a market capitalization of $51.43 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date is Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is currently 80.47%.

ONEOK Company 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.