Cary Street Partners Financial LLC Purchases Shares of 15,162 ONEOK, Inc. (NYSE:OKE)

Cary Street Partners Financial LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,162 shares of the utilities provider’s stock, valued at approximately $1,522,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of ONEOK during the fourth quarter valued at approximately $39,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the 4th quarter worth approximately $48,000. Finally, VSM Wealth Advisory LLC purchased a new position in ONEOK during the 4th quarter worth approximately $50,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Scotiabank decreased their target price on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 29th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Performance

OKE opened at $80.22 on Thursday. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a market cap of $50.11 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50-day moving average of $89.62 and a 200-day moving average of $98.26.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.14%. ONEOK’s payout ratio is 80.47%.

ONEOK Company 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.