First Trust Direct Indexing L.P. Acquires 1,316 Shares of ONEOK, Inc. (NYSE:OKE)

First Trust Direct Indexing L.P. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,552 shares of the utilities provider’s stock after acquiring an additional 1,316 shares during the period. First Trust Direct Indexing L.P.’s holdings in ONEOK were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OKE. Massmutual Trust Co. FSB ADV raised its position in shares of ONEOK by 4.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 144 shares during the period. Presima Securities ULC lifted its position in ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 150 shares during the last quarter. FourThought Financial Partners LLC boosted its holdings in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 161 shares during the period. Cooper Financial Group grew its position in shares of ONEOK by 1.8% in the first quarter. Cooper Financial Group now owns 10,257 shares of the utilities provider’s stock valued at $822,000 after purchasing an additional 182 shares during the last quarter. Finally, Monarch Capital Management Inc. increased its stake in shares of ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE traded up $0.47 on Thursday, hitting $82.80. 1,564,905 shares of the company’s stock were exchanged, compared to its average volume of 2,518,106. The stock has a 50-day moving average of $80.26 and a 200-day moving average of $76.12. The stock has a market cap of $48.33 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 4.41 and a beta of 1.65. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the firm earned $2.34 EPS. Analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio is 92.09%.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. JPMorgan Chase & Co. boosted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Morgan Stanley lifted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.50.

About ONEOK

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.