Wellington Management Group LLP Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Wellington Management Group LLP trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,673 shares of the utilities provider’s stock after selling 1,904 shares during the period. Wellington Management Group LLP’s holdings in ONEOK were worth $2,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in ONEOK by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 342,952 shares of the utilities provider’s stock worth $21,753,000 after buying an additional 61,362 shares during the last quarter. Modera Wealth Management LLC purchased a new position in ONEOK during the 3rd quarter worth $250,000. 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 worth $843,133,000 after buying an additional 3,636,660 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in ONEOK during the 3rd quarter worth $4,498,000. Finally, Public Sector Pension Investment Board grew its stake in ONEOK by 47.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 135,970 shares of the utilities provider’s stock worth $8,625,000 after buying an additional 43,714 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research reports. Raymond James increased their price objective on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Bank of America raised ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $83.00 in a report on Monday, December 4th. Barclays increased their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Mizuho increased their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, UBS Group increased their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.73.

Read Our Latest Research Report on ONEOK

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

ONEOK Stock Up 1.2 %

ONEOK stock opened at $79.59 on Thursday. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.28 and a beta of 1.65. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.22. The business’s 50-day moving average price is $73.14 and its 200 day moving average price is $69.42. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKEGet Free Report) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the prior year, the company posted $1.08 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a dividend of $0.99 per share. The ex-dividend date was Monday, January 29th. This represents a $3.96 dividend on an annualized basis and a yield of 4.98%. This is an increase from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK declared that its board has authorized a stock repurchase plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

ONEOK Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKEFree Report).

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.