WPWealth LLP Takes $203,000 Position in ONEOK, Inc. (NYSE:OKE)

WPWealth LLP acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,022 shares of the utilities provider’s stock, valued at approximately $203,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in ONEOK during the fourth quarter valued at $539,554,000. Wellington Management Group LLP lifted its holdings in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after buying an additional 3,418,207 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $182,694,000. ClearBridge Investments Ltd acquired a new position in ONEOK during the fourth quarter worth $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of ONEOK by 445.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after acquiring an additional 1,246,963 shares in 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 brokerages have recently weighed in on OKE. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Scotiabank cut their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Finally, Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.42.

ONEOK Price Performance

ONEOK stock opened at $86.19 on Monday. The business has a 50 day simple moving average of $93.39 and a 200 day simple moving average of $99.40. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $53.84 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a positive change 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 dividend yield of 4.78%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.