9,914 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Transcendent Capital Group LLC

Transcendent Capital Group LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,914 shares of the utilities provider’s stock, valued at approximately $696,000.

Several other hedge funds have also recently modified their holdings of OKE. Vanguard Group Inc. grew its stake 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 acquiring an additional 5,525,010 shares in the last quarter. Norges Bank purchased a new stake in ONEOK during the 4th quarter valued at about $297,948,000. Deutsche Bank AG grew its stake in ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after acquiring an additional 3,636,660 shares in the last quarter. Blackstone Inc. grew its stake in ONEOK by 3,478.3% during the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after acquiring an additional 3,478,316 shares in the last quarter. Finally, Invesco Ltd. grew its stake in ONEOK by 65.9% during the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after acquiring an additional 3,229,046 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.8 %

ONEOK stock traded down $0.66 during mid-day trading on Friday, reaching $78.10. 2,508,584 shares of the company’s stock were exchanged, compared to its average volume of 2,358,823. The company has a market cap of $45.58 billion, a P/E ratio of 18.16, a P/E/G ratio of 4.19 and a beta of 1.65. ONEOK, Inc. has a twelve month low of $57.37 and a twelve month high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $79.79 and a 200-day moving average of $74.96.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company 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 business earned $2.34 EPS. Sell-side analysts expect that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.07%. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OKE. Stifel Nicolaus upped their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley increased their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. UBS Group increased their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.25.

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.