Fulton Bank N.A. Takes $316,000 Position in ONEOK, Inc. (NYSE:OKE)

Fulton Bank N.A. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,185 shares of the utilities provider’s stock, valued at approximately $316,000.

Several other hedge funds have also recently modified their holdings of the stock. Merit Financial Group LLC raised its holdings in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 1,180 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of ONEOK by 154.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,069 shares of the utilities provider’s stock worth $106,000 after buying an additional 649 shares in the last quarter. NBC Securities Inc. raised its stake in shares of ONEOK by 114,650.0% during the 1st quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider’s stock worth $227,000 after buying an additional 2,293 shares in the last quarter. Czech National Bank lifted its holdings in shares of ONEOK by 12.5% in the 1st quarter. Czech National Bank now owns 142,504 shares of the utilities provider’s stock valued at $14,139,000 after buying an additional 15,841 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of ONEOK by 10.2% in the first quarter. Rhumbline Advisers now owns 1,238,477 shares of the utilities provider’s stock valued at $122,882,000 after buying an additional 114,416 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.7%

OKE opened at $81.10 on Friday. The business’s fifty day moving average is $83.85 and its two-hundred day moving average is $95.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted 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 firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OKE shares. 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. Stifel Nicolaus lowered their price target 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. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Barclays dropped their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.69.

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.