First Trust Advisors LP Sells 60,728 Shares of ONEOK, Inc. (NYSE:OKE)

First Trust Advisors LP decreased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,055,104 shares of the utilities provider's stock after selling 60,728 shares during the quarter. First Trust Advisors LP owned 0.18% of ONEOK worth $105,932,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter worth approximately $539,554,000. Wellington Management Group LLP raised its position in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after buying an additional 3,418,207 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ONEOK in the fourth quarter worth approximately $182,694,000. ClearBridge Investments Ltd bought a new position in ONEOK during the fourth quarter valued at about $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of ONEOK by 445.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock valued at $153,319,000 after purchasing an additional 1,246,963 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock traded up $0.10 during mid-day trading on Friday, reaching $86.38. The stock had a trading volume of 1,817,255 shares, compared to its average volume of 3,172,255. The firm has a market cap of $53.95 billion, a PE ratio of 18.07, a P/E/G ratio of 3.77 and a beta of 1.20. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The firm's 50 day simple moving average is $92.28 and its 200 day simple moving average is $99.04.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 79.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 price target for the company. Finally, Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.42.

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.