Envestnet Asset Management Inc. Reduces Position in ONEOK, Inc. (NYSE:OKE)

Envestnet Asset Management Inc. lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 883,539 shares of the utilities provider's stock after selling 21,681 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of ONEOK worth $88,707,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of ONEOK in the 3rd quarter worth approximately $346,000. Wellington Management Group LLP lifted its holdings in ONEOK by 129.2% during the third quarter. Wellington Management Group LLP now owns 788,699 shares of the utilities provider's stock worth $71,874,000 after buying an additional 444,559 shares during the period. EP Wealth Advisors LLC boosted its position in ONEOK by 54.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 22,859 shares of the utilities provider's stock valued at $2,083,000 after acquiring an additional 8,091 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of ONEOK in the 3rd quarter valued at $1,090,000. Finally, MML Investors Services LLC raised its position in shares of ONEOK by 18.7% in the 3rd quarter. MML Investors Services LLC now owns 25,443 shares of the utilities provider's stock worth $2,319,000 after acquiring an additional 4,008 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE traded up $1.20 during trading on Friday, hitting $82.44. The company's stock had a trading volume of 3,777,706 shares, compared to its average volume of 3,159,477. 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 firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 3.77 and a beta of 1.20. The business's fifty day simple moving average is $94.64 and its 200 day simple moving average is $99.59. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07.

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ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Scotiabank lowered 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. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Morgan Stanley boosted their target price on 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 given a buy rating and one has assigned 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 target price of $105.00.

About ONEOK

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.