ONEOK, Inc. (NYSE:OKE) Stake Raised by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,717 shares of the utilities provider’s stock after acquiring an additional 731 shares during the period. Ranch Capital Advisors Inc.’s holdings in ONEOK were worth $1,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Independent Advisor Alliance raised its stake in shares of ONEOK by 12.1% during the 4th quarter. Independent Advisor Alliance now owns 20,467 shares of the utilities provider’s stock worth $2,055,000 after purchasing an additional 2,216 shares in the last quarter. Altiora Financial Group LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $201,000. Johnson Investment Counsel Inc. grew its holdings in shares of ONEOK by 15.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 15,659 shares of the utilities provider’s stock worth $1,572,000 after purchasing an additional 2,119 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of ONEOK by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 85,970 shares of the utilities provider’s stock worth $8,632,000 after buying an additional 1,062 shares during the period. Finally, Enterprise Financial Services Corp bought a new position in shares of ONEOK during the 4th quarter worth approximately $215,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $89.59 on Monday. The stock has a market capitalization of $55.93 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a 50 day moving average of $100.00 and a 200-day moving average of $99.46. 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 issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.60%. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

Several equities analysts have issued reports on OKE shares. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.