First Trust Direct Indexing L.P. Has $1.41 Million Stake in ONEOK, Inc. (NYSE:OKE)

First Trust Direct Indexing L.P. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,552 shares of the utilities provider’s stock after acquiring an additional 1,316 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ONEOK were worth $1,407,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its stake in shares of ONEOK by 17.1% in the 3rd quarter. Lazard Asset Management LLC now owns 11,659 shares of the utilities provider’s stock valued at $739,000 after purchasing an additional 1,704 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth about $663,000. Ameriprise Financial Inc. increased its holdings in shares of ONEOK by 20.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 863,364 shares of the utilities provider’s stock valued at $54,773,000 after acquiring an additional 146,282 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of ONEOK by 1,192.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 555,476 shares of the utilities provider’s stock valued at $35,234,000 after acquiring an additional 512,485 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in ONEOK by 0.5% in the 3rd quarter. Earnest Partners LLC now owns 273,862 shares of the utilities provider’s stock worth $17,371,000 after purchasing an additional 1,479 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OKE shares. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Stifel Nicolaus upped their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Finally, Mizuho lifted their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.50.

ONEOK Price Performance

NYSE OKE traded up $0.47 on Thursday, reaching $82.80. The company’s stock had a trading volume of 1,564,905 shares, compared to its average volume of 2,518,106. The firm has a market cap of $48.33 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 4.41 and a beta of 1.65. 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, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31. The business has a 50-day moving average price of $80.26 and a 200 day moving average price of $76.12.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business 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 period in the prior year, the firm posted $2.34 EPS. Sell-side analysts expect that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

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.