J.W. Cole Advisors Inc. Acquires 1,049 Shares of ONEOK, Inc. (NYSE:OKE)

J.W. Cole Advisors Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,326 shares of the utilities provider’s stock after purchasing an additional 1,049 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $908,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Deutsche Bank AG grew its stake in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after purchasing an additional 2,153,295 shares during the period. Morgan Stanley raised its position in ONEOK by 20.3% during the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of ONEOK by 1.5% in the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after buying an additional 85,736 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.55 during mid-day trading on Friday, hitting $82.25. The stock had a trading volume of 1,283,105 shares, compared to its average volume of 2,815,109. The firm has a market cap of $48.01 billion, a PE ratio of 19.12, a PEG ratio of 4.44 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a 50 day moving average of $80.29 and a two-hundred day moving average of $76.16. ONEOK, Inc. has a twelve month low of $60.52 and a twelve month high of $83.31.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $2.34 earnings per share. Research analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.81%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Analyst Ratings Changes

OKE has been the topic of several research reports. Stifel Nicolaus raised their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley boosted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.50.

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.