Acropolis Investment Management LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

Acropolis Investment Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 12.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,923 shares of the utilities provider’s stock after buying an additional 211 shares during the quarter. Acropolis Investment Management LLC’s holdings in ONEOK were worth $191,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OKE. Norges Bank purchased a new stake in ONEOK during the fourth quarter valued at $539,554,000. Wellington Management Group LLP raised 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 valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in ONEOK during the fourth quarter valued at $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in ONEOK during the fourth quarter valued at $177,045,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.0%

NYSE OKE opened at $82.11 on Tuesday. The company’s 50-day moving average price is $83.14 and its 200-day moving average price is $93.79. 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 stock has a market cap of $51.69 billion, a PE ratio of 17.18, a PEG 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.

ONEOK (NYSE:OKE) last posted its quarterly 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). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the company posted $1.09 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced 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 5.02%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OKE shares. Scotiabank decreased their price target on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Morgan Stanley increased their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays reduced their target price on shares of 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 investment 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 stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target 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.