ONEOK, Inc. (NYSE:OKE) Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,623 shares of the utilities provider’s stock after purchasing an additional 122 shares during the period. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Norges Bank purchased a new position in ONEOK in the fourth quarter worth approximately $297,948,000. Wellington Management Group LLP grew its holdings in shares of ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares during the period. M&G Plc acquired a new stake in shares of ONEOK during the 1st quarter worth about $77,634,000. Kayne Anderson Capital Advisors LP raised its holdings in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in ONEOK by 36.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock valued at $145,782,000 after buying an additional 552,824 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target of $89.92.

ONEOK Stock Up 1.0 %

Shares of NYSE:OKE opened at $91.37 on Friday. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The firm’s 50 day moving average price is $86.12 and its 200 day moving average price is $81.77. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock has a market cap of $53.37 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.33%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.