Inscription Capital LLC Makes New $4.33 Million Investment in ONEOK, Inc. (NYSE:OKE)

Inscription Capital LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the first quarter, Holdings Channel.com reports. The firm acquired 43,650 shares of the utilities provider’s stock, valued at approximately $4,331,000. ONEOK accounts for approximately 0.7% of Inscription Capital LLC’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after acquiring an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 buying an additional 934,007 shares during the period. Geode Capital Management LLC raised its holdings in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares in the last quarter. Northern Trust Corp raised its stake in shares of ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock worth $656,200,000 after buying an additional 864,392 shares in the last quarter. Finally, Norges Bank purchased a new position in ONEOK in the fourth quarter worth $539,554,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. 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. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Citigroup lowered their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Finally, Stifel Nicolaus lowered their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Six 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Price Performance

NYSE:OKE opened at $82.11 on Tuesday. The firm has a market cap of $51.69 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average is $83.14 and its two-hundred day moving average is $93.79.

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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio 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.