Invesco Ltd. Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Invesco Ltd. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,665,233 shares of the utilities provider's stock after selling 1,102,011 shares during the period. Invesco Ltd. owned approximately 1.14% of ONEOK worth $669,189,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the 4th quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new position in ONEOK during the 4th quarter valued at approximately $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK in the fourth quarter worth $51,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

OKE has been the topic of several research reports. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Wolfe Research upgraded 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 dropped 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. Finally, Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Seven investment 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's stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $105.00.

Remove Ads

ONEOK Price Performance

Shares of ONEOK stock traded up $1.20 during trading hours on Friday, reaching $82.44. The stock had a trading volume of 3,777,706 shares, compared to its average volume of 3,157,343. The stock's 50 day moving average is $94.64 and its 200 day moving average is $99.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The firm has a market capitalization of $51.49 billion, a PE ratio of 17.25, a PEG ratio of 3.77 and a beta of 1.20.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is a boost 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 is currently 79.69%.

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.