Headland Capital LLC Invests $263,000 in ONEOK, Inc. (NYSE:OKE)

Headland Capital LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,617 shares of the utilities provider’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Navigoe LLC acquired a new position in shares of ONEOK during the 4th quarter worth $72,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth $3,860,000. AQR Capital Management LLC grew its stake in ONEOK by 18.9% in the 4th quarter. AQR Capital Management LLC now owns 95,104 shares of the utilities provider’s stock valued at $9,548,000 after acquiring an additional 15,135 shares during the last quarter. California State Teachers Retirement System grew its stake in ONEOK by 52.1% in the 4th quarter. California State Teachers Retirement System now owns 2,182,296 shares of the utilities provider’s stock valued at $219,103,000 after acquiring an additional 747,824 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after acquiring an additional 864,392 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.1 %

Shares of NYSE OKE opened at $87.81 on Wednesday. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The firm has a fifty day moving average of $91.59 and a 200-day moving average of $98.91. The stock has a market capitalization of $54.85 billion, a PE ratio of 18.37, a P/E/G ratio of 3.77 and a beta of 1.20. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 4.69%. ONEOK’s dividend payout ratio is presently 79.69%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Scotiabank lowered their price target on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.25.

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.