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

Johnson Investment Counsel Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,054 shares of the utilities provider’s stock after selling 1,605 shares during the period. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $1,394,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in OKE. Vanguard Group Inc. increased its holdings in shares of ONEOK by 0.8% in 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. 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 increased its stake in ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after buying an additional 357,015 shares during the period. Northern Trust Corp increased its stake in ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after buying an additional 864,392 shares during the period. Finally, Norges Bank acquired a new position in ONEOK in the 4th quarter valued at approximately $539,554,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus dropped their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Scotiabank dropped their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 5th. Finally, Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Stock Performance

NYSE:OKE opened at $82.25 on Friday. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The firm’s fifty day simple moving average is $83.00 and its 200 day simple moving average is $93.22. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $51.78 billion, a PE ratio of 16.06, a PEG ratio of 1.59 and a beta of 0.94.

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). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the prior year, the business posted $1.09 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business 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. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. ONEOK’s payout ratio is 80.47%.

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.