Alliancebernstein L.P. Has $64.63 Million Position in ONEOK, Inc. (NYSE:OKE)

Alliancebernstein L.P. reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 643,681 shares of the utilities provider's stock after selling 9,891 shares during the period. Alliancebernstein L.P. owned 0.11% of ONEOK worth $64,626,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OKE. Vanguard Group Inc. boosted its holdings in shares of ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after purchasing an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its stake in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter worth $539,554,000. Finally, Wellington Management Group LLP increased its position in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after acquiring an additional 3,418,207 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

ONEOK Stock Performance

Shares of NYSE:OKE traded down $4.21 during trading hours on Thursday, hitting $80.65. The stock had a trading volume of 1,092,150 shares, compared to its average volume of 3,142,623. The stock's fifty day simple moving average is $95.26 and its 200 day simple moving average is $99.77. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The firm has a market capitalization of $50.38 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 3.77 and a beta of 1.20. 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 (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analyst Ratings Changes

Several equities analysts recently commented on OKE shares. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price on the stock. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Barclays dropped their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley raised their price objective 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. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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.