ONEOK, Inc. $OKE Shares Purchased by Sei Investments Co.

Sei Investments Co. grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.6% during the first quarter, Holdings Channel reports. The institutional investor owned 209,315 shares of the utilities provider’s stock after acquiring an additional 20,103 shares during the period. Sei Investments Co.’s holdings in ONEOK were worth $18,920,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Keynote Financial Services LLC bought a new position in shares of ONEOK in the first quarter valued at approximately $268,000. Signature Equity Partners LLC raised its holdings in ONEOK by 19,158.3% during the first quarter. Signature Equity Partners LLC now owns 4,622 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 4,598 shares in the last quarter. Wiregrass Investment Management LLC raised its holdings in ONEOK by 4.8% during the first quarter. Wiregrass Investment Management LLC now owns 11,914 shares of the utilities provider’s stock worth $1,077,000 after purchasing an additional 542 shares in the last quarter. Arvest Bank Trust Division lifted its position in ONEOK by 0.4% in the first quarter. Arvest Bank Trust Division now owns 36,880 shares of the utilities provider’s stock worth $3,334,000 after purchasing an additional 165 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in ONEOK by 8.3% in the first quarter. First Citizens Bank & Trust Co. now owns 44,676 shares of the utilities provider’s stock worth $4,038,000 after purchasing an additional 3,410 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 1.4%

ONEOK stock opened at $90.03 on Thursday. The firm has a market cap of $56.73 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 4.80 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm’s 50 day moving average price is $89.23 and its two-hundred day moving average price is $86.43. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the company posted $1.04 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.65 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK’s payout ratio is 76.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Jefferies Financial Group raised their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a report on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.81.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.