Wellington Management Group LLP Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Wellington Management Group LLP increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 129.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 788,699 shares of the utilities provider's stock after purchasing an additional 444,559 shares during the period. Wellington Management Group LLP owned 0.14% of ONEOK worth $71,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in shares of ONEOK in the 3rd quarter valued at about $29,890,000. Stifel Financial Corp boosted its holdings in ONEOK by 5.5% in the third quarter. Stifel Financial Corp now owns 803,878 shares of the utilities provider's stock valued at $73,258,000 after purchasing an additional 41,956 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in ONEOK in the third quarter valued at approximately $3,535,000. Quadrature Capital Ltd acquired a new stake in ONEOK during the third quarter worth approximately $1,715,000. Finally, Quantinno Capital Management LP lifted its position in shares of ONEOK by 27.9% during the 3rd quarter. Quantinno Capital Management LP now owns 54,500 shares of the utilities provider's stock worth $4,967,000 after buying an additional 11,898 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.02 on Wednesday, reaching $104.36. 2,681,146 shares of the stock were exchanged, compared to its average volume of 2,808,220. 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 $60.97 billion, a PE ratio of 21.85, a PEG ratio of 5.49 and a beta of 1.69. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. The business has a fifty day moving average price of $102.95 and a two-hundred day moving average price of $91.43.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company posted $0.99 earnings per share. As a group, research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.79%. ONEOK's payout ratio is currently 82.85%.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Morgan Stanley upgraded shares of ONEOK from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $101.00.

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.