NBC Securities Inc. Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

NBC Securities Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 114,650.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,295 shares of the utilities provider’s stock after acquiring an additional 2,293 shares during the quarter. NBC Securities Inc.’s holdings in ONEOK were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC grew its stake in ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares during the period. Northern Trust Corp grew its position in shares of ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after purchasing an additional 864,392 shares during the period. Finally, Norges Bank purchased a new stake in shares of ONEOK in the fourth quarter valued at $539,554,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $81.70 on Friday. The stock has a 50 day moving average of $83.49 and a two-hundred day moving average of $95.25. 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 12 month low of $75.48 and a 12 month high of $118.07. The company has a market capitalization of $51.03 billion, a P/E ratio of 17.09, a P/E/G ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OKE shares. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Scotiabank lowered their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Barclays decreased their target price on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.69.

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.