ONEOK, Inc. (NYSE:OKE) Position Boosted by World Investment Advisors LLC

World Investment Advisors LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 154.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,522 shares of the utilities provider's stock after buying an additional 6,381 shares during the quarter. World Investment Advisors LLC's holdings in ONEOK were worth $959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Envestnet Portfolio Solutions Inc. lifted its stake in ONEOK by 10.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,240 shares of the utilities provider's stock valued at $427,000 after purchasing an additional 488 shares during the last quarter. Blue Trust Inc. increased its stake in ONEOK by 26.3% in the second quarter. Blue Trust Inc. now owns 2,447 shares of the utilities provider's stock valued at $196,000 after purchasing an additional 510 shares in the last quarter. Dakota Wealth Management raised its position in shares of ONEOK by 3.7% during the second quarter. Dakota Wealth Management now owns 12,923 shares of the utilities provider's stock worth $1,054,000 after purchasing an additional 457 shares during the period. Sanibel Captiva Trust Company Inc. lifted its stake in shares of ONEOK by 33.0% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 7,166 shares of the utilities provider's stock valued at $584,000 after buying an additional 1,778 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in shares of ONEOK by 4.5% in the second quarter. Focus Financial Network Inc. now owns 13,592 shares of the utilities provider's stock valued at $1,160,000 after purchasing an additional 585 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Mizuho raised shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. Finally, UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.00.

ONEOK Stock Performance

Shares of OKE stock traded down $1.20 during trading hours on Monday, hitting $102.84. The stock had a trading volume of 2,957,869 shares, compared to its average volume of 2,801,753. The stock's 50 day moving average is $103.54 and its 200 day moving average is $91.93. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $60.07 billion, a PE ratio of 21.76, a PEG ratio of 5.24 and a beta of 1.69. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 business earned $0.99 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.85%. ONEOK's dividend payout ratio (DPR) is currently 82.85%.

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.